Investors have no voting rights on CEO change: Byju’s

A day after a group of Byju’s investors issued notice for convening an extraordinary general meeting (EGM) to oust the current leadership team led by founder-CEO, Byju Raveendran, the company said that its shareholder agreement does not give investors the right to vote on CEO or management change.

“Think & Learn (TLPL), the parent of Byju’s, has noted with sorrow, statements from a select few investors calling for an EGM to replace founder and group CEO Byju Raveendran. Under these unfortunate circumstances, we would emphasise that the shareholder’s agreement does not give them the right to vote on CEO or management change,” the company said in a statement on Friday.