Byju’s shareholders vote to remove founder Raveendran from CEO post; company calls vote ‘invalid’

Bengaluru: Investors of the embattled edtech firm Byju’s, on Friday voted to change the company’s leadership effectively removing founder Byju Raveendran from his role as chairman, and his family members from the board of directors.

However, the investors who are also majority shareholders in the company, will have to wait since the Karnataka High Court has said that no decision taken at this extraordinary general meeting (EGM) shall be enforceable till the next hearing on the matter, scheduled for March 13.

Raveedran and his family, who skipped the meeting, maintained that the resolutions passed during the EGM are “invalid and ineffective”, citing the high court hearing earlier this week.