Mumbai: Byju’s chief financial officer (CFO) Ajay Goel has resigned to go back to Vedanta Ltd, both companies said in a statement on Tuesday.
Goel will close out the FY2021-22 financial statement for Byju’s before leaving, the edtech firm said.
He will join Vedanta on October 30, the conglomerate said. “As part of the structured re-hiring program called ‘gharwapsi’, Mr Ajay Goel joins back the company,” Vedanta said.
Goel was appointed with much fanfare by Byju’s, operated by Think & Learn Pvt Ltd, in April 2023, after a multi-year search for a chief financial officer.
“I thank the founders and colleagues at BYJU’S for helping me assemble the FY22 audit in three months. I appreciate the support received during a short but impactful stint at BYJU’S,” Goel said in a statement.
This is a homecoming for Goel, who was Vedanta’s chief executive officer till April 2023.
“Ajay was earlier associated with Vedanta as acting CFO and Key Managerial Person of the company from October 23, 2021 to April 09, 2023. During his earlier role at Vedanta, Ajay contributed significantly in terms of driving business performance, managing the financial affairs of the company and heading the finance function with his leadership acumen. He was also instrumental in successfully handling regulatory approvals, investment matters, capital allocation, investor relations and major M&A-related affairs,” Vedanta said in a statement.
Vedanta’s CFO Sonal Srivastava resigned with effect from October 24, the conglomerate said.
Goel has previously worked at Nestle, General Electric, Coca Cola and Diageo- USL.
Meanwhile, Byju’s said it was appointing Nitin Golani, who is currently the President- Finance, to assume additional responsibility as India Chief Financial Officer.
The company also said it has appointed Pradip Kanakia, who previously held leadership positions at Price Waterhouse and KPMG, to join its advisory council.
Byju’s has struggled with releasing its financial audited accounts on time. It saw its long-standing auditor Deloitte Haskins and Sells resign in May, which led to the appointment of BDO as its new auditor.
The company is due to announce its FY21-22 statements soon. It previously committed to releasing its FY23 statements by December 2023.
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Updated: 24 Oct 2023, 10:12 AM IST