Byju’s, with a valuation of INR 189000 crore, is currently the world’s most valuable startup. The company has recently hired Ajay Goel as its Chief Financial Officer, succeeding PV Rao who resigned a year ago. This decision was made amid the company’s delay in submitting regulatory filings for the financial year 2021-22 over six months. Who is Ajay Goel, and how will he handle the financial responsibilities of such a massive ed-tech company?
Ajay Goel brings with him a rich experience of 21 years, having worked for renowned companies such as Vedanta, Diageo, Coca-Cola, Nestle, and General Electric. Before joining Byju as the CFO in March 2021, he served as the Group CFO of Vedanta and also held the position of Deputy Group CFO.
He held the position of Executive Vice President and Finance Controller at Diageo and was also an Executive Vice President at General Electric. According to his LinkedIn profile, he was the Lead Finance Manager at Coca-Cola. He is experienced in team building, strategic finance, and various aspects of the finance industry.
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Like many other corporate leaders, Ajay Goel did not attend an IIT or IIM. Instead, he is a chartered accountant and company secretary. It is said that he achieved a rank in the single digits on a national level for these courses. He obtained his BCom degree from Xavier College in Mumbai.
Currently, the company is in the process of raising significant funds from a group of investors.
Goel tendered his resignation from Vedanta last month and his resignation is set to be effective from April 9, according to the company’s regulatory filing. In his new role at Byju’s, he will closely collaborate with the company’s founders, Byju Raveendran, and Divya Gokulnath, focusing on strategy, capital planning, and finance.
In a statement, the company said, “With his extensive experience and diverse skill-set, Ajay is the ideal candidate to take on the role of the 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.”