BYJU’S, the educational technology company, has announced that its Chief Financial Officer Ajay Goel has resigned after completing the audit process for the financial year 2022. Goel will be returning to Vedanta, as stated by the company. In response to this, BYJU’S has appointed Pradip Kanakia as the senior advisor and given the additional responsibility of India Chief Finance Officer to Nitin Golani, who is currently the President of Finance.
Goel expressed his gratitude towards the founders and colleagues at BYJU’S for their support during his impactful but short stint at the company. He will transition after completing the necessary formalities of the financial year audit, as mentioned in the statement.
However, BYJU’S is still awaiting certain approvals to file its long-pending financial results for the fiscal year 2022.
In a separate stock exchange filing, Vedanta announced the appointment of Goel as its CFO, effective from October 30, 2023. The company stated that Goel joins back Vedanta as part of their structured re-hiring program called ‘Gharwapsi’. Notably, Goel had previously left Vedanta earlier this year to join BYJU’S.
The same announcement revealed that Shrivastava has resigned as Vedanta’s CFO due to personal reasons, with effect from the close of business hours on October 24.
Vedanta highlighted Goel’s qualifications and experiences, stating that he is a national rank holder as a Chartered Accountant and Company Secretary. He has extensive experience in leadership roles within global multinational companies such as General Electric, Nestle, Coca Cola, and Diageo – USL. Goel had previously served as the acting CFO of Vedanta from October 23, 2021, to April 9, 2023. Vedanta acknowledged his contributions in driving business performance, managing financial affairs, and handling regulatory approvals, investments, and major M&A-related matters.
Goel’s departure from BYJU’S comes at a crucial time for the ed tech company, as it is yet to file its results for the fiscal year 2021-22. Additionally, it is facing challenges with lenders over a billion-dollar loan while attempting to raise fresh capital to sustain its operations.
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