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Byju's says investors have no right to change its leadership
Mint Mumbai
|February 03, 2024
Investors of Byju's do not enjoy the right to change the company's chief executive or management under their shareholders' agreement (SHA), the edtech's founders claimed, a day after the investors pushed for a shareholders' meet for this purpose.
The founders' pushback came on a day when Byju's Alpha, the company's US unit controlled by lenders, filed for bankruptcy protection.
On 1 February, top investors holding a combined 30% stake in Byju's parent Think & Lear Pvt. Ltd called for an extraordinary general meeting (EGM) to change the leadership, reconstitute the board, and address financial management and governance issues. The investors' action came after Byju's approached existing investors to raise $200 million at a valuation that would have wiped out those who refused.
Esta historia es de la edición February 03, 2024 de Mint Mumbai.
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