Rajnish Kumar and Mohandas Pai to leave Byju's advisory panel
State Bank of India chief–and Mohandas Pai–previously CFO at Infosys– will not be renewing their contract to be part of Byju's board advisory council, sources familiar with the matter said.
This adds to the series of troubles the edtech firm finds itself in since last year. Pai and Kumar’s contract ends on June 30 and they are not renewing the contract, people briefed on the matter said. Both Pai and Kumar joined the advisory council following Byju's investors–Peak XV Partners, Prosus and Chan Zuckerberg Initiative–leaving the board of the company last year.
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Offering CollegeCourseWebsiteMIT xPROMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Product ManagementVisitIndian School of BusinessProfessional Certificate in Product ManagementVisit«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–shared by Byju's spokesperson.
“There has not been much to discuss recently because most of the disputes are now in various courts and tribunal. The council was formed with a one year timeline and now it’s done. Given how things are at the firm–the council will essentially dissolve now,” a person aware of the matter said.
Business news publication Mint
