MUMBAI: Former SBI chairman
Rajnish Kumar
and former CFO of Infosys
Mohandas Pai
are stepping down from Byju’s
advisory council
.
In a statement on Sunday, the troubled edtech firm said that company and advisory board members Kumar and Pai have mutually decided not to renew the contractual agreement scheduled to end on June 30, 2024.
Byju’s had constituted the council last year to assuage investor concerns following a series of
financial and corporate governance lapses
at the firm.
The council was tasked with advising and mentoring
Byju’s
board and CEO Byju Raveendran.
“Our engagement with the company as advisors was always on a fixed term basis for a year. 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,” Kumar and Pai said in a joint statement.
