In yet another blow to the beleaguered ed-tech firm Byju's, a top executive, senior vice president for international business, Cherian Thomas, resigned from the company.
Thomas was responsible for Byju's US operations and played a major part in the company's expansion, mergers and acquisitions. He was the CEO of Osmo, a subsidiary of the ed-tech company. Thomas was the first international employee at Byju's back in 2017 and was credited with building the international organisation of the company.
The departure of Thomas comes barely a few months after venture capital firms Peak XV Partners, Prosus Ventures, and Chan Zuckerberg Initiative (CZI) announced that their representatives resigned from the board of Byju's.
Byju's has been facing a series of issues in recent times, including a decline in valuation and revenue, defaulting on loans, and the exit of Deloitte as its auditor. The company was in the news a few days ago after media reports said it asked 400 of its employees to voluntarily resign.
Thomas joined US-based Impending Inc.—the studio behind applications like video games Heads Up and Here Kitty, and listing app Clear—as CEO. He will focus on building and scaling the product portfolio, while strengthening and growing a global talent pool, the company said in a statement.
"We are hugely excited to have Cherian Thomas on board. We share a vision of creating inspired apps with pop culture potential without compromise and have convinced each other that we are going to make it happen together," Impending Inc co-founder Phill Ryu said.
