Subramanyam Reddy, the CEO of KnowledgeHut, an upskilling startup owned by edtech unicorn UpGrad, has resigned after a 13-year tenure. His departure was effective from December 5, 2023, without a notice period.
In his place, Asheesh Sharma, a former executive at Byju's, has been appointed as the new President of Short Courses and Bootcamps, starting January 2, 2024.
“We confirm that upGrad and its division Head, Subramanyam Reddy of erstwhile Knowledgehut have mutually decided to terminate the employment, effective December 5th 2023 with no notice period," the statement read.
In a heartfelt LinkedIn post, Reddy shared his journey and achievements at KnowledgeHut. He expressed gratitude for the team's accomplishments, from the early bootstrapping days to creating a robust AI learning platform. Reddy highlighted the company's profitability and its successful acquisition by UpGrad under Ronnie Screwvala's leadership.
He plans to focus on family and new ventures in marketing and technology, leveraging his experience in building businesses, particularly in the USA.
Asheesh Sharma's new role
"We are pleased to announce the appointment of Asheesh Sharma - President, Short Courses and Bootcamps, effective 2nd January 2024," the company said.
Asheesh Sharma, with over two decades of experience in education, steps into his new role at UpGrad KnowledgeHut. His previous positions include Academic Head for JEE and NEET at BYJU’S Tuition Centre and a 17-year tenure at Resonance, including over five years as CEO.
Sharma's appointment is part of UpGrad's strategy to expand and innovate its short course and bootcamp offerings internationally.
UpGrad's financial performance
UpGrad has been actively restructuring, and consolidating its three Indian subsidiaries into a global 'LifeLong Learning' company. The company reported a significant 96% revenue increase in FY23, reaching Rs 1,194 crore, despite an adjusted EBITDA loss of Rs 558 crore. UpGrad has also seen major leadership changes, including key hires across various roles in 2023.
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