Byju’s-owned edtech firm Aakash Educational Services Limited (AESL) announced on Monday that it has appointed Deepak Mehrotra as its Managing Director (MD) and Chief Executive Officer (CEO), a position that has been vacant since Abhishek Maheshwari resigned from the company in September 2023.
Mehrotra will start his new role with immediate effect, the company said.
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“I am honoured to join AESL, a pioneer in the education sector, and look forward to working closely with the talented team to deliver quality education and empower students to achieve their full potential,” said Mehrotra.
The appointment of Deepak Mehrotra is part of AESL’s strategic vision to enhance its offerings and expand its reach, the company said.
“In his role as CEO, he (Mehrotra) will be responsible for delivering on our aggressive growth plan and to build on the significant momentum the company is currently experiencing. His business acumen and stellar record as the Managing Director for Pearson India will be pivotal in leading Aakash BYJU’S into its next phase of growth and impact,” said Byju Raveendran, founder and Chairman of Byju’s.
Mehrotra, the company said, has 35 years of leadership expertise in sectors like FMCG, telecom, and education. Prior to joining AESL, he was the Managing Director at Ashirvad Pipes. He has also worked at Pearson India, Bharti Airtel, Coca-Cola, and Asian Paints.
An IIT Roorkee electrical engineering alumnus, Mehrotra has completed an Executive program from The Wharton School, Philadelphia (USA).
“Deepak’s appointment as the new leader of AESL marks an exciting milestone for our organization. His strategic vision and proven operational expertise will be instrumental in solidifying our position as an industry leader,” said Shailesh Haribhakti, the Chairman of AESL.
Aakash has been the best-performing acquisition of Byju’s at a time when the edtech giant has been facing a multitude of challenges, including massive losses, issues in securing fresh capital, delays in financial reporting, and legal disputes with lenders.
AESL’s revenue grew 44.6 per cent to Rs 1,421 crore in FY22 from Rs 983 crore in FY21, according to regulatory documents sourced from business intelligence platform Tofler. The company’s net profit increased 82.2 per cent year-on-year (YoY) to Rs 79.5 crore in FY22.
The company has a network of over 310 Aakash centres (including franchisees) and a student count of more than 400,000. Under the leadership of Mehrotra, AESL aims to further strengthen its position as a leader in test preparation and educational services.
Read More: Edtech firm Aakash Educational Services appoints Deepak Mehrotra as CEO |