2 Byju’s Advisory Board Members “Mutually Decide” To Step Down Amid Crisis

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2 Byju's Advisory Board Members 'Mutually Decide' To Step Down Amid Crisis

Byju’s said it values the engagement with the advisors (Representational)

New Delhi:

Embattled edtech firm Byju’s on Sunday said its two senior advisory board members – Rajnish Kumar and Mohandas Pai – have decided not to renew the contractual agreement scheduled to end on June 30.

The development came as the edtch company is battling several issues, including delayed salaries amid a cash crunch.

“Rajnish Kumar and Mohandas Pai have provided invaluable support in the past year. The ongoing litigation by a few foreign investors have delayed our plans but their advice will be relied upon in the ongoing rebuild which I am personally leading,” said Byju Raveendran, Founder and CEO, Think & Learn.

Byju’s said it values the engagement with the advisors and appreciates their efforts in navigating the company through turbulent times.

“Based on our discussions with the founders, it was mutually decided that the tenure of the advisory council should not be extended. Though the formal engagement concludes, the founders and the company can always approach us for any advice,” Mr Kumar and Mr Pai said in a joint statement.

Earlier this month, Mr Raveendran asked staff to pull the plug on aggressive selling, while slashing course prices by up to 30 per cent.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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