Still Byju’s CEO; EGM a ‘farce’: Raveendran to staff

New Delhi: A day after investors of the troubled edtech firm Byju’s voted for a leadership change, Byju Raveendran has penned a note to employees saying he continues to remain CEO and the management remains unchanged, as he dubbed Friday’s EGM as a ‘farce’.

The note to employees assumes significance as it comes after Byju’s shareholders (prominent investors) on Friday voted for removing Founder-CEO Raveendran and his family from the board over alleged ‘mismanagement and failures’ at what was once India’s hottest tech startup, but the company dug in its heels, calling the voting done in absence of founders as invalid and ineffective.

In a note to employees on Saturday, Raveendran alleged that a lot of essential rules were ‘violated’ at Friday’s Extraordinary General Meeting (EGM).