Mohandas Pai and Rajnish Kumar join Byju’s advisory board

Byju has appointed former Infosys CFO T.V. Mohandas Pai and former State Bank of India chairman Rajnish Kumar to a newly created Board Advisory Committee on 13th July 2023.

Byju’s said in a press statement that the council will be essential in advising and guiding Byju’s board and CEO Byju Raveendran on significant issues that will affect the future of the business. Further, they added that  Byju’s dedication to refining its financial governance processes and utilising professional assistance to promote sustainable growth and strategic decision-making is demonstrated by the nomination of these two renowned thought leaders in finance and governance to the Advisory Council.

Mohandas Pai said in a statement that “As part of the Advisory Council, I look forward to advising the leadership in evolving the systems of governance and financial reporting, as well as to grow an organisational structure that can serve as a resilient foundation for the future of the company.”

Adding on to this Rajnish Kumar said “My discussions with Byju and Divya convinced me that they are dedicating sincere efforts to steer a course correction of the company’s governance structure. They have reached out to engage with experienced professionals with a proven track record of running large corporates and with a deep understanding of governance issues.”

Deloitte Haskins & Sells, Byju’s six-year statutory auditor, resigned last month with “immediate effect” due to “long-delayed” financial results for FY22. Additionally, three non-promoter board members left their positions after lenders sued the company for missing a payment of $500 million. The company is contesting lender’s charges in a US court.