Byju's faces more trouble as its Auditor & 3 Directors quit
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Three board members of Ed tech company Byju’s resigned on Thursday, June 22. According to reports, Peak XV Partners' GV Ravishankar, Prosus' Russell Dreisenstock and Chan Zuckerberg Initiative's Vivian Wu have stepped down from their responsibilities from the board. The company spokespersons have denied reports dismissing them as speculative.
Meanwhile, The Ken has reported that Byju’s auditor’s Deloitte Haskins & Sells had also stepped down with immediate effect and shortly after this news broke, Byju's announced the appointment of a new statutory auditor, BDO MSKA, in a bid to ‘strengthen governance’.
According to the reports, the resignations were the result of differences with the founder regarding the company's approach to key business operations. Following these resignations, the Byju's board will now consist solely of family members of founder Byju Raveendran, including founder Divya Gokulnath, and Riju Raveendran, as reported by Deccan Herald. GV Ravishankar and Vivian Wu have not been available for comment and have not responded to journalists' calls thus far.
Meanwhile, The Ken has reported that Byju’s auditor’s Deloitte Haskins & Sells had also stepped down with immediate effect and shortly after this news broke, Byju's announced the appointment of a new statutory auditor, BDO MSKA, in a bid to ‘strengthen governance’.
According to the reports, the resignations were the result of differences with the founder regarding the company's approach to key business operations. Following these resignations, the Byju's board will now consist solely of family members of founder Byju Raveendran, including founder Divya Gokulnath, and Riju Raveendran, as reported by Deccan Herald. GV Ravishankar and Vivian Wu have not been available for comment and have not responded to journalists' calls thus far.
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