New Delhi (India), 4th April 2023: More than a year after its previous CFO resigned, Byju’s, the most valuable edtech startup in the world, hired top Vedanta executive Ajay Goel as its Chief Financial Officer (CFO). This is a significant move for the business, which has postponed filing its FY22 (2021-22) results for more than six months.
People with knowledge of the situation informed that Goel was appointed 16 months after Byju’s previous CFO, PV Rao, resigned in December 2021. Goel served as Vedanta Resources’ group deputy chief financial officer. Goel worked for Diageo, GE (General Electric), Coca-Cola, and Nestle before joining Vedanta.
In a statement to the media, Byju’s confirmed the news. According to the business, Goel will be in charge of directing Byju’s financial strategy and management. According to the business, Goel will collaborate closely with the founders and senior leadership on strategy creation, capital planning, and financial analysis.
The results for Byju’s’ FY22 have not yet been submitted to the Ministry of Corporate Affairs. (MCA). Private businesses must submit their yearly results to the MCA by September each year in order to comply with regulatory requirements.
Nearly 18 months after the fiscal year concluded, Byju’s reported its FY21 (2020-21) results and revealed a surprising decline in its revenue. In the meantime, the company’s losses increased significantly to over Rs 4,500 billion.
