Rajnish Kumar and Mohandas Pai to exit BYJU'S Advisory Council

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Former State Bank of India (SBI) Chairman Rajnish Kumar and ex-Infosys Chief Financial Officer Mohandas Pai are set to step down from their roles on Think & Learn's advisory council, according to an announcement made by the EdTech firm on Sunday, May 19, as reported by PTI.

Raveendran Byju, founder of Think & Learn, which operates under the BYJU'S brand, attributed the company's revival challenges to certain foreign investors. These investors have been accused of delaying critical initiatives, such as the restructuring of the board, the timely release of financial results, and addressing liquidity issues by opposing a $200 million rights issue.


The advisory council was formed in July 2023 with the objective of guiding the company through its crisis and improving governance.


In a joint statement, Kumar and Pai explained that their engagement was always intended to last for a fixed term of one year. They noted that, after discussions with the founders, it was mutually decided not to extend the council's tenure. They emphasized that although their formal roles would conclude, they remain open to providing advice to the company in the future. They expressed their best wishes for the company's ongoing success.


Their contractual agreement will end on June 30, 2024.


BYJU'S expressed its gratitude for the contributions of Kumar and Pai, acknowledging their significant support during turbulent times. The company highlighted the value of their guidance in overcoming challenges.


Raveendran Byju commented on the situation, noting that ongoing litigations from certain foreign investors have delayed the company's plans. However, he stressed that the advice from Kumar and Pai will continue to be essential as he personally leads the company's rebuilding efforts.