Troubled BYJU'S Denies Reports of Three Board Members Resigning

Edtech giant BYJU'S has refuted recent reports claiming that three board members have resigned from their positions. GV Ravishankar, an early backer of BYJU'S and Managing Director at Peak XV Partners (formerly Sequoia Capital India), Russell Dreisenstock from Prosus (formerly Naspers), and Vivian Wu from the Chan Zuckerberg Initiative have all allegedly stepped down. However, BYJU'S has clarified that these resignations are still pending acceptance.

In response to the speculations, a spokesperson from BYJU'S dismissed the claims, stating, "A recent media report suggesting the resignations of board members from BYJU'S is entirely speculative. BYJU'S firmly denies these claims and urges media publications to refrain from spreading unverified information or engaging in baseless speculation."

"It is imperative to approach such matters with accuracy and avoid spreading unfounded rumours," the company asserted.

The company emphasized the importance of relying on official channels and announcements for any significant developments or changes within the organization. The reported departures of these board members are said to stem from disagreements with BYJU'S founder, Byju Raveendran, on critical operational matters relating to the edtech company.

This development occurs as BYJU'S awaits a substantial funding infusion and grapples with disputes concerning a $1.2-billion term loan B (TLB) with its creditors.

Following the conclusion of the pandemic-induced edtech boom, BYJU'S has been confronted with mounting losses, layoffs, and unresolved loans. While the company is facing these challenges, BYJU'S remains steadfast in its denial of the reported board member resignations.

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