Who is Aakash Chaudhry, who is likely to return as CEO of Aakash Institute

Aakash Chaudhary is an Indian entrepreneur who co-founded Aakash Educational Services (AESL) with J.C Chaudhary in 1988. one of India's oldest education company.

Prior to his tenure at AESL, He worked at Technologies and Cognizant Technology Solutions, which helped him in gaining substantial experience in business management.

In April 2021, Byju's acquired three-decade-old education company AESL for $950 million in a cash and stock deal.

Chaudhry, who had previously served as the CEO of AESL until November 2020, is set to resume his role of CEO and is expected to replace Abhishek Maheshwari, the recent CEO who left the firm last month.

The leadership transition is believed to be linked to the finalization of a stock-swap deal with BYJU'S parent company, Think and Learn Pvt Ltd, which began during AESL's acquisition two years ago.

The Chaudhry family, along with the private equity firm Blackstone Group, collectively holds a 30% stake in AESL.

According to an ET report, Ongoing discussions suggest that Chaudhry might retain about 9% in AESL and acquire approximately 8% in Think and Learn.

After this transaction, Think and Learn is expected to own a majority stake in AESL.