BYJU'S—Major shareholders including Prosus voted to oust founder Byju Raveendran as CEO over governance failures
In January 2024, major shareholders including Prosus voted to remove founder Byju Raveendran as CEO during an extraordinary general meeting, seeking resolution of 'outstanding governance, financial mismanagement and compliance issues.' Raveendran and family members did not attend. Earlier in June 2023, auditor Deloitte and three board members had severed ties over governance concerns. The company's valuation collapsed from $22 billion to zero.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Corporate Governance | -against | primary | -1.00 |
| Overall incident score = | -0.089 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.59)× agency (incidental ×0.1)
Evidence (1 signal)
Major shareholders including Prosus voted to oust founder Byju Raveendran as CEO over governance failures
In January 2024, major shareholders including Prosus voted to remove founder Byju Raveendran as CEO during an extraordinary general meeting, seeking resolution of 'outstanding governance, financial mismanagement and compliance issues.' Raveendran and family members did not attend. Earlier in June 2023, auditor Deloitte and three board members had severed ties over governance concerns. The company's valuation collapsed from $22 billion to zero.