Mohandas Pai, former SBI chair to join Byju`s advisory council
Early Byju's investor Mohandas Pai and former State Bank of India chairman Rajnish Kumar will join an advisory council at the Indian edtech startup, weeks after resignations by its auditor and investor representatives amid governance concerns.
The council will mentor Byju's board and its CEO Byju Raveendran on crucial matters, the company said on Thursday.
"As part of the advisory council, I look forward to advising the leadership in evolving the systems of governance and financial reporting," Pai said.
Last month, Pai told Reuters in an interview that the startup – once India's most valued at $22 billion – had not paid enough attention to governance.
Byju's auditor Deloitte and board members representing investors Peak XV, Prosus and the Chan Zuckerberg Initiative stepped down in June, as the startup had not submitted its financial papers for fiscal 2022.
"My discussions with Byju and Divya (Gokulnath) convinced me that they are dedicating sincere efforts to steer a course correction of the company's governance structure," said Kumar.
