08 April 2024 – Former Pearson India Managing Director Deepak Mehrotra has been selected as the chief executive officer of Byju’s-owned test prep firm Aakash, filling a vacancy that arose seven months ago.
Background and Previous Experience:
Mehrotra brings a wealth of experience, having served as the managing director at Ashirvad Pipes and held leadership roles in various organizations such as Pearson Emerging Markets MC, Micromax Informatics Ltd, and others.
Byju’s acquired Aakash in April 2021, utilizing the funds from Aakash’s profitable operations to offset losses from other acquisitions. The appointment of Mehrotra is part of Byju’s strategy to strengthen its leadership team and optimize the performance of its acquired entities.
The appointment of Mehrotra comes amid challenges faced by Byju’s, including a liquidity crunch and difficulties with stakeholders such as board members, auditors, investors, and government institutions like the Employees‘ Provident Fund Organisation and the Enforcement Directorate.
There are reports of potential investments from Ranjan Pai-led MEMG Family Office to aid Byju’s in overcoming financial hurdles. Mehrotra’s appointment is seen as a strategic move to navigate these challenges and drive growth in Aakash under Byju’s ownership.
Conclusion:
With Mehrotra’s extensive experience and leadership, Byju’s aims to enhance the performance and strategic direction of Aakash, leveraging its resources and expertise in the edtech sector amidst evolving market dynamics and financial complexities.
