Byju’s CFO Ajay Goel Returns to Vedanta – CFO of Vedanta Sonal Srivastava Resigns

Ajay Goel, the Chief Financial Officer of Byju’s, has tendered his resignation to return to Vedanta Ltd, according to statements from both companies. Goel will finalize Byju’s financial statements for FY2021-22 before his departure, as reported by the edtech firm.

He is set to join Vedanta on October 30 as part of a structured rehiring program referred to as “gharwapsi” by Vedanta. Vedanta also announced the resignation of its CFO, Sonal Srivastava, effective from October 24.

Goel’s appointment at Byju’s in April 2023 marked the end of a multi-year search for a CFO, and his return to Vedanta is a homecoming of sorts, as he previously served as Vedanta’s CEO until April 2023. During his earlier tenure at Vedanta, he significantly contributed to business performance, financial management, and leadership in the finance function. His role encompassed handling regulatory approvals, investment matters, capital allocation, investor relations, and major M&A activities, according to Vedanta.

Nitin Golani, currently the President of Finance at Byju’s, will assume additional responsibilities as the India Chief Financial Officer, while Pradip Kanakia, who held leadership positions at Price Waterhouse and KPMG, has been appointed to the advisory council.

Byju’s has faced challenges in releasing its audited financial accounts on time and experienced the resignation of its long-standing auditor, Deloitte Haskins and Sells, in May. BDO was subsequently appointed as the new auditor. The company is expected to announce its FY21-22 financial statements soon and has committed to releasing its FY23 statements by December 2023.

Have you read it?
From Tricycle Escapades to Corporate Triumphs: How the Spirit of Adventure Defines Leadership.
Five Ways to Make the Most of a Strategic Pause.
Want to Build a Better Work Team? Begin With the Power of Belonging.
The Impact of Customer Advocacy on Business.
Four Keys to Great Management: A Meta-Framework.