Former upGrad CEO Arjun Mohan becomes Byju’s India CEO, replacing Mrinal Mohit

Arjun Mohan, who rejoined Byju’s in July to lead its international business, has now been appointed as CEO of India operations. As per the company, Mrinal Mohit, who has been with the company since day one, is "pursuing personal aspirations". However, the development follows months of speculation regarding Mohit's possible departure, coinciding with mounting governance issues and a significant funding shortage faced by the company.

Notably, the company is currently in the middle of a business restructuring, resulting in the recent resignations of several high-ranking executives, including Chief Business Officer Prathyusha Agarwal, WhiteHat Jr's CEO Ananya Tripathi, and the head of international business, Cherian Thomas.

“If Byju's has reached the remarkable heights it stands at today, it is due to the extraordinary efforts of our founding team. Mrinal's contributions have left an indelible mark on our organisation, and we bid him a bittersweet farewell. I am immensely proud of what we have achieved together,” Raveendran said.

Mohan was part of the founding team of Byju’s and last served as its Chief Business Officer before joining upGrad as CEO in 2020. The company said in a statement that he spent the last three months working closely with the founder and Group CEO Byju Raveendran.

“Arjun's return is a testament to his belief in our mission and the unparalleled opportunities that lie ahead. His expertise will undoubtedly help our turnaround efforts and strengthen our position in the global edtech landscape," Raveendran added.

"It was no surprise that I joined him to revolutionise education more than a decade ago. And it is no surprise either that I return to Byju's today, when technology is poised to play an even more important role in making education truly personalised. While challenges are aplenty, I am ready to play my role in helping Byju's empower our current and future generations to thrive in a rapidly changing world,” Mohan said.

Mohan joins the edtech major at a time when the Bengaluru-based company is engaging with potential suitors to sell two of its key assets, even as it awaits the long-elusive fresh equity funding to pay off debts. The company has put two of its group firms -- higher education platform Great Learning and kids-focused digital reading platform Epic – on sale to raise immediate funds to meet the repayment obligations towards the $1.2 billion of Term Loan B it availed from a consortium of US-based creditors.

The Bengaluru-based company has been reeling under intense pressure as a series of controversies continue to plague the company, including the resignation of its statutory auditor, Deloitte Haskins & Sells, the departure of board members, and an ongoing legal battle concerning the TLB.

Early this month, Bloomberg reported that the company has presented a repayment proposal to its lenders, offering to pay back its entire term loan in less than six months. As per the report, Byju’s has offered to repay $300 million of the distressed debt within three months if the amendment proposal is accepted and the remaining amount in the subsequent three months.

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