Byju's CEO Resignation:  Byju Raveendran, the founder of ed-tech company Think & Learn, which owns the Byju brand, will take over the company's day-to-day operations following the resignation of CEO Arjun Mohan, the company said on Monday. Following the move, the company announced a major business restructuring that will consolidate its business into three focused divisions: learning apps, online classes, and teaching and test preparation centers.

"The changes follow an extensive seven-month operational review and cost optimisation exercise led by outgoing BYJU'S India CEO Arjun Mohan. This new phase will also see Byju Raveendran taking a more hands-on approach in spearheading the daily operations of the company," the company said.

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Mohan will now serve as an outside consultant and bring his extensive expertise in educational technology to the company and its founders during this transition period.

Over the last four years, Raveendran has concentrated on strategic aspects such as raising capital and driving global expansion.

"With this new organisational structure and with the return of Byju Raveendran as the operational leader, BYJU'S is now well-positioned to begin its next chapter of innovation-led growth by launching at scale its new suite of AI-first products that have already received an overwhelmingly positive feedback in the pilot phase," the statement said.

Byju's, once the leading and among the fastest growing ed-tech firm, has been in crisis for several months. Recently, the company has closed all its offices except headquarters in Bengaluru to cut the cost. It has already done several rounds of layoff and the employees working with the firms have been not getting their salaries timely. 

(With PTI Inputs

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