BENGALURU: Byju’s parent company Think & Learn Private Limited (TLPL) and the two advisory board members — Rajnish Kumar and Mohandas Pai — have mutually decided not to renew the contractual agreement scheduled to end on June 30, 2024.
This comes at a time when the edtech firm is fighting many legal battles. “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. 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,” Kumar and Pai said in a joint statement.“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, Founder & CEO, Think & Learn, said.
In July last year, the edtech company appointed both Pai and Kumar in its Advisory Council, which was said to be adivising and mentoring Byju’s Board and its CEO on crucial matters.
Recently, Raveendran took over daily operational responsibilities of Byju’s after nearly four years. It announced a major reorganisation to streamline its operations and as part of it, the firm is consolidating its businesses into three focused divisions - The Learning App, Online Classes & Tuition Centres, and Test-prep.