I continue to remain CEO: Byju Raveendran to staff

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By Sunil Chaudhary

In a recent development at Byju’s, the leading edtech firm, founder Byju Raveendran has firmly reassured his employees of his continued leadership as CEO, amidst reports of an investor-led attempt to oust him. This declaration came after an extraordinary general meeting (EGM) where a faction of investors, including notable Dutch technology investment firm Prosus, reportedly voted for a change in the company’s leadership and board structure.

I continue to remain CEO: Byju Raveendran to staff

Raveendran’s steadfast communication to his team highlighted the unchanged management and board, emphasizing “business as usual” at Byju’s. His message was a beacon of stability, aimed at dispelling any uncertainties among employees and stakeholders following the controversial EGM.

The group of investors had proposed significant changes to the board of Byju’s parent company, Think & Learn Pvt. Ltd., which includes pivotal figures such as Raveendran, his wife and co-founder Divya Gokulnath, and his brother Riju Ravindran. Despite these proposed changes, Raveendran’s note to his employees underscored his unwavering position at the helm of the company.

Raveendran also highlighted the legal and procedural sanctity of the company’s governance structures, rooted in the shareholder agreement and Articles of Association. He described these documents as the “constitutional backbone” of Byju’s operations, asserting that they ensure any corporate decisions and changes occur within a stringent legal framework. His remarks pointed to the EGM resolutions as being invalid, reinforcing his stance on the matter.

This episode reflects the complex dynamics of investor relations and corporate governance within high-growth startups like Byju’s. The firm, which has been at the forefront of educational technology, now finds itself navigating the choppy waters of corporate disputes. Raveendran’s firm stance and reliance on legal frameworks suggest a potential legal battle ahead, as the company and its investors seek to resolve their differences.

As Byju’s continues to play a pivotal role in the edtech sector, the outcome of this dispute will be closely watched by industry observers and stakeholders alike, marking a significant chapter in the company’s journey

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