Byju Raveendran—Key investor board members and executives resigned over governance concerns at BYJU'S
Three major investor board members from Prosus, Chan Zuckerberg Initiative, and Peak XV Partners (formerly Sequoia Capital India) resigned from BYJU's board over governance concerns and disagreements with Raveendran on internal controls. CFO Ajay Goel left in October 2023, India CEO Arjun Mohan departed in April 2024, and advisory council members Rajnish Kumar and TV Mohandas Pai also resigned. Prosus subsequently wrote off its 9.6% stake to zero, citing inadequate information on the company's financial health.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Corporate Governance | -against | primary | -1.00 |
| Corporate Transparency | -against | secondary | -0.50 |
| Overall incident score = | -0.322 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.57)× agency (negligent ×0.5)
Evidence (1 signal)
Prosus, Chan Zuckerberg Initiative, and Peak XV board members resigned; Prosus wrote off 9.6% stake to zero
Three key investor board members from Prosus, Chan Zuckerberg Initiative, and Peak XV Partners resigned over governance concerns and disagreements with Raveendran on business processes and internal controls. Prosus subsequently wrote off its 9.6% stake to zero, stating it had inadequate information on the company's financial health, liabilities, and future outlook. CFO Ajay Goel and India CEO Arjun Mohan also departed.