According to various media reports, amid a series of challenges with edtech giant Byju’s two advisory board members, Rajnish Kumar and Mohandas Pai, have mutually agreed not to renew their contracts.
The contract of Rajnish Kumar and Mohandas Pai is set to expire on June 30, 2024. This decision marks another significant setback for Byju’s as it navigates a period of turbulence.
The company is actively restructuring and refocusing its strategies to overcome recent setbacks and continue its growth trajectory in the competitive edtech industry.
In a joint statement, Rajnish Kumar and Mohandas Pai said, “Our engagement with the company as advisors was always on a fixed term basis for a year.”
“Based on our discussions with the founders, it was mutually decided that the tenure of the advisory council should not be extended”, the statement added.
The statement further said, “Though the formal engagement concludes, the founders and the company can always approach us for any advice. We wish the founders and the company the very best for the future.”
BYJU’S cofounder and CEO Byju Raveendran said, “Rajnish Kumar and Mohandas Pai have provided invaluable support in the past year.”
“The ongoing litigations 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,” Byju Raveendran added.
However, the company did not comment that the exit was due to its current challenges. In 2023, Rajnish Kumar and TV Mohandas Pai accepted their invitation to join the company’s newly constituted Advisory Council.
In this role, The council played a pivotal role in advising and mentoring BYJUS Board and its CEO, Byju Raveendran, on crucial matters that shape the company’s future.
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