Byju's-Owned Aakash Institute Appoints Deepak Mehrotra as MD & CEO

Byju's-owned Aakash Institute has recently announced the appointment of Deepak Mehrotra as its Managing Director and Chief Executive Officer. With over 35 years of extensive experience in various executive roles spanning FMCG, telecom, and education sectors, Mehrotra brings a wealth of expertise to his new role.

Previously serving as the Managing Director at Ashirvad Pipes, Mehrotra has also held positions at renowned organizations such as Pearson India, Bharti Airtel, Coca-Cola, and Asian Paints. His remarkable track record as the MD for Pearson India underscores his capability to drive growth and steer organizations towards success.

Byju Raveendran, the founder and chairman of Byju's, expressed confidence in Mehrotra's ability to lead Aakash Byju's into its next phase of growth. Raveendran emphasized Mehrotra's business acumen and stellar performance at Pearson India as pivotal assets for propelling Aakash Byju's forward amid its current momentum.

Earlier reports suggested a shift in leadership dynamics at Aakash Institute, with plans of Aakash Chaudhry, the promoter of the coaching business unit, potentially returning to the helm being dropped. Recent developments in Aakash's captable, including significant changes and failed negotiations, have steered the firm in a different direction.

Ranjan Pai, the chairman of the Manipal Group and a major stakeholder in Aakash Institute, has played a crucial role in the company's recent decisions. With Pai owning a substantial 40% stake in Aakash and extending additional capital for daily operations, his influence as a key decision-maker is paramount.

Despite the changes in leadership and ownership structure, Chaudhrys, along with investment fund Blackstone, still hold significant stakes in Aakash Institute. The remaining ownership is divided between Raveendran and Think & Learn, the parent company of Byju's.

In a recent report by ET, it was revealed that Pai, being the largest investor in Aakash Institute, is distancing himself from the ongoing conflict between Byju's and its investors. Instead, Pai is focusing on safeguarding his investments across the various entities under the Byju's group.

Pai's decision to seek resolution through the Singapore arbitration council over a $42 million loan sanctioned to Think and Learn underscores his commitment to protecting his investments. His previous involvement in resolving debt issues for Raveendran further highlights his proactive approach to safeguarding investor interests.

As Deepak Mehrotra takes the reins at Aakash Institute, the company is poised for a new era of growth and innovation under his leadership. With the backing of key stakeholders and a seasoned executive at the helm, Aakash Byju's is well-positioned to navigate challenges and capitalize on emerging opportunities in the education sector.