BYJU'S Senior VP Departs Amid Challenges, Joins Impending as CEO

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Cherian Thomas, the Senior Vice President in charge of international business at BYJU'S, has departed from the organization, marking a significant departure from the ed-tech company as it confronts a series of difficulties. Thomas has taken on the role of Chief Executive Officer at Impending, a US-based firm that specializes in software and mobile gaming applications, according to an official statement. In his new role as CEO at Impending, Thomas will concentrate on the expansion and development of the product portfolio, as well as the enhancement of a diverse global talent pool, as highlighted in the statement. Phill Ryu, Co-founder of Impending, conveyed enthusiasm about the shared vision to create culturally significant applications without compromise, expressing confidence in their collaborative endeavors.

Impending is renowned for producing popular apps like Heads Up, Clear, and Classics. Previously, Thomas co-established and sold a venture capital-supported startup called Cucumbertown to the Japanese multinational firm Cookpad in 2016. Additionally, he played a pivotal role in the establishment of BYJU'S US operations and led the growth of BYJU’S subsidiary Osmo as its CEO. The acquisition of the US-based startup Osmo, valued at $120 million, was carried out by BYJU’S in 2019. Apart from Osmo, BYJU’S also procured other US-based companies, such as Tynker and Epic, amid the pandemic years.

Recent developments have seen Arjun Mohan, the former CEO of upGrad, taking on the role of CEO for BYJU'S international operations, assuming responsibility for the company's overseas ventures, while Mrinal Mohit took charge of its operations in India. Amidst multiple acquisitions, the Bangalore-headquartered enterprise has concurrently reduced its workforce on a global and domestic scale in response to various challenges.

In a recent instance, BYJU'S eliminated around 100 employees as part of performance-based evaluations. These performance-driven terminations come following a prior workforce downsizing that affected more than 1,000 individuals. The organization has pursued multiple rounds of workforce reduction as part of ongoing cost-saving initiatives since the previous year. Post the surge in demand for edtech during the pandemic, BYJU’S remains confronted by a range of obstacles, including delays in financial statement filings, disagreements with lenders regarding a $1.2-billion term loan B, and a dispute with the US-based investment fund Davidson Kempner concerning its test preparation unit, Aakash. In the fiscal year 2021, the edtech giant incurred a loss of Rs 4,564.38 crore, a substantial increase from its Rs 305.5 crore loss in the previous fiscal year.