Byju's announces new finance leadership as CFO Ajay Goel set to return to Vedanta

Byju's said on Tuesday its Chief Financial Officer Ajay Goel is exiting the edtech firm and has announced new leadership in finance function. Goel's exit comes barely six months of him joining the embattled firm.

Byju's announced appointment of Pradip Kanakia as the senior advisor and Nitin Golani, who is currently the President - Finance, will assume additional responsibility as India Chief Finance Officer (CFO).

Goel, who is returning to Vedanta Ltd on October 30, said: "I thank the founders and colleagues at BYJU'S for helping me assemble the FY22 audit in three months. I appreciate the support received during a short but impactful stint at Byju's". He will transition after completing the formalities of the FY22 audit, said Byju's as it is likely to announces its much-awaited FY22 financials soon.

"Pradip Kanakia brings vast experience from a prominent career of over 35 years and has held leadership positions at Price Waterhouse and KPMG. He has led audits for prestigious Indian and multinational companies with expertise in finance strategy, transformation, performance management, accounting, auditing, reporting, controls, compliance, and governance," said Byju's.

The new India CFO and President - Finance, Nitin Golani, was previously the Chief Strategy Officer at Aakash Education. "He played a crucial role in Byju's $1 billion acquisition of Aakash in 2021 and moved into an operating role at Aakash post-acquisition. Nitin, a chartered accountant, began his career at Grant Thornton Bharat and has held roles at MetLife and Accenture Strategy. Nitin will work closely with the board, founders and senior leadership on strategy development, capital planning, and financial analysis," said Byju's.

Founders Byju Raveendran and Divya Gokulnath spoke about the new finance team, "Their experience, understanding and insights on business and finance will help us in our ongoing turnaround efforts." They thanked Ajay Goel for his significant contributions during his tenure as CFO. "We sincerely appreciate Ajay's efforts and accomplishments in a short period. We wish him all the best in his future endeavours," the founders added.

Nitin Golani said he would take up the new role alongside a dedicated team. "I am committed to ensuring that BYJU'S growth is robust and sustainable. My endeavour now is to maximise shareholder value by optimising financial performance," he added. 

Pradip Kanakia said, "I look forward to working with the Founders, Advisory Council and Nitin in navigating the transformation process at the company".