Two education giant companies, Byju’s and Vedanta, announced a major development on Tuesday, October 24, 2023, i.e. today, that Ajay Goel who was the chief financial officer (CFO) at Byju’s, has stepped down to re-join Vedanta. Yes, you heard it right, Byju’s CFO resigned to go back to his former company. The displacement of Ajay Goel was affirmed by both companies through a statement released on Tuesday. Since it was announced, investors and other associates of Byju’s and Vedanta, have been keenly following the market trends. However, this decision would not impact on their financial results. Here you must be thinking of whether Ajay Goel is leaving Byju’s with immediate effects or if he will complete the current fiscal year. Let’s delve deep into the details and find out more details.
According to the ed-tech firm, before leaving the company Ajay Goel will close out the FY2021-22 financial statement for Byju’s. When he will join Vedanta? Reportedly, Goel is expected to join Vedanta on Monday, October 30, 2023. The Conglomerate announced, “As part of the structured re-hiring program called ‘Gharwapsi’, Mr. Ajay Goel joins back the company.” Shift to the following section and read more details.
For the unversed, Ajay Goel joined Byju’s after he was appointed by Think & Learn Pvt Ltd. this year in the month of April. Ajay Goel’s appointment as Byju’s CFO had finished the years-long search for a chief financial officer of Byju but it started again after his shocking decision to leave the ed-tech firm to re-join Vedanta. Ajay Goel said, “I thank the founders and colleagues at BYJU’S for helping me assemble the FY22 audit in three months. I appreciate the support received during a short but impactful stint at BYJU’S,”
In April 2023, Ajay Goel stepped down as Vedanta’s Chief Executive Officer to join Byju as Chief Financial Officer. The official statement from Vedanta reads, “Ajay was earlier associated with Vedanta as acting CFO and Key Managerial Person of the company from October 23, 2021 to April 09, 2023. During his earlier role at Vedanta, Ajay contributed significantly in terms of driving business performance, managing the financial affairs of the company, and heading the finance function with his leadership acumen. He was also instrumental in successfully handling regulatory approvals, investment matters, capital allocation, investor relations, and major M&A-related affairs.” Additionally, Sonal Srivastava, Vedanta’s current CFO, also resigned today with immediate effect. Stay tuned to this website.