Aakash Educational Services Limited (AESL), an edtech company owned by Byju, said on Monday that Deepak Mehrotra has been named as the company’s new CEO and Managing Director (MD). Abhishek Maheshwari left the role in September 2023. Mehrotra will begin his new position immediately, the business announced.
“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.
According to the corporation, Deepak Mehrotra’s appointment is a part of AESL’s strategic strategy to improve its offerings and broaden its reach.
“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.
According to the company, Mehrotra has 35 years of experience in leadership roles in industries like education, telecom, and FMCG. He was the Managing Director of Ashirvad Pipes before coming to work at AESL. In addition, he has held positions with Asian Paints, Coca-Cola, Bharti Airtel, and Pearson India.
Mehrotra is an electrical engineering graduate of IIT Roorkee who also holds an executive degree from The Wharton School in Philadelphia, Pennsylvania (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.
At a time when the edtech behemoth has been dealing with a number of difficulties, such as significant losses, difficulties obtaining new funding, delays in financial reporting, and legal problems with lenders, Aakash has proven to be Byju’s best-performing purchase.
Based to regulatory papers obtained from business intelligence platform Tofler, AESL’s sales increased by 44.6% to Rs 1,421 crore in FY22 from Rs 983 crore in FY21. In FY22, the company’s net profit rose by 82.2 percent YoY to Rs 79.5 crore.
