Byju’s Appoints Vedanta Group’s Ajay Goel As CFO

Ajay Goel, a former Vedanta executive, has been appointed as BYJU's Chief Financial Officer (CFO). Goel has more than two decades of expertise in achieving financial and operational achievements for companies such as Vedanta, Diageo, GE, Coca-Cola, and Nestle.

As CFO, Goel will be in charge of BYJU's financial strategy and management. On strategy development, capital planning, and financial analysis, he will collaborate closely with the founders and senior leadership.

Byju Raveendran, Founder and CEO of BYJU'S, made the news, saying, “We are delighted to welcome Ajay Goel to our BYJU’S family to further strengthen our leadership team. With his extensive experience and diverse skill set, Ajay is the ideal candidate to take on the role of Chief Financial Officer as we continue to chart the course of sustainable growth in this exciting new phase. His strategic thinking and financial acumen will be instrumental in helping us create even more value for our stakeholders.”

Goel has experience in areas such as team development, interacting with the board of directors and the audit committee, strategic finance, business partnering and decision support, managing M&As, capital restructuring and funding strategy, taxation, and other relevant sectors.

Financial scrutiny of  BYJU's

As audit firm Deloitte delayed signing its FY21 financials, BYJU's financials have been under scrutiny. This resulted in an 18-month delay in filing BYJU's FY21 numbers. Furthermore, the edtech company has yet to disclose its FY22 financials.

Karti P Chidambaram, a Member of Parliament, has also written to the Institute of Chartered Accountants of India (ICAI) in October 2022, demanding it to investigate the financials of edtech decacorn Byju's.

Aniket Sunil Talati, President of the ICAI, stated last month that the Financial Reporting Review Board (FRRB) expects to finish its ongoing investigation of BYJU's before the end of the year.