In July this year, Think and Learn Pvt. Ltd (T&L), the parent company of edtech decacorn Byju’s that hit rough waters a year ago, appointed former State Bank of India chairman Rajnish Kumar and former chief financial officer of Infosys T.V. Mohandas Pai to its newly formed board advisory council (BAC). Byju’s, India’s most valued startup, is currently juggling multiple issues ranging from lawsuits, capital crunch and slashed valuations to governmental investigation into its financial activities, layoffs and closure of offices. While it remains to be seen if Kumar and Pai can put in place the missing corporate governance guardrails that brought Byju’s to its current state, T&L will have to make some drastic changes to survive.
One such option on the cards is removing its co-founder and CEO Byju Raveendran from his current position. This is akin to what happened with Ashneer Grover, co-founder of fintech start-up BharatePe. Both founders are in the dock for financial discrepancies. Their start-ups witnessed resignations of senior executives amid reports of corporate misgovernance and both roped in industry veterans to put the house in order. While Grover was ousted from the company, is Raveendran too headed in the same direction?
Bu hikaye Outlook Business dergisinin September 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Outlook Business dergisinin September 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
'Automation is Redefining Efficiency and Precision in Jewellery Manufacturing'
Increasing brand consciousness and awareness among consumers is helping expand the organised jewellery retail industry. MP Ahammed, chairman of Malabar Group, discusses prominent trends in the jewellery industry
BATTLE TO WIN THE AI RACE
In Supremacy, Parmy Olson tells the astonishing and behind-the-scenes story of the battle between the world’s two leading artificial intelligence firms, OpenAl and DeepMind and the continuing rivalry of its founders Sam Altman and Demis Hassabis respectively
A LEADER WHO EMPOWERS
Anshul Arzare, MD and CEO of YES SECURITIES, wants to ensure a workplace where employees not only contribute to the company's vision but also feel content
EV Unplugged
Electric vehicles are crucial to India’s climate change plan. But reliance on China for imports and technology constraints remain hurdles the sector needs to overcome
Every Lamborghini Owner is a Brand Ambassador
Regional director of Automobili Lamborghini, Francesco Scardaoni, talks to Prachi Khanna about the brand’s approach to fostering a sense of community among its vehicle owners. Edited excerpts
NO ZEST FOR ZED
A government initiative to green MSMEs is not finding enough takers
SMALL PLANTS, BIG TROUBLE
Climate-triggered stress is placing an unprecedented burden on small businesses. But a lack of access to climate aid hinders the sector's ability to adopt greener methods
'We Think About the Rider More Than Any Other Company
Rapido co-founder Aravind Sanka talks to Neeraj Thakur and Deepsekhar Choudhury about how flexibility and fair pay helped his company disrupt the Ola-Uber duopoly. Edited excerpts
LABOUR PANGS
Rising cost of living in a fast-growing economy is making workers restless
'Hustle is No Virtue'
It has become fashionable to talk about the verb “hustle” these days, especially in professional settings.
