This development is quite intriguing! Deepak Mehrotra assuming the role of Managing Director and CEO at Aakash Educational Services Limited (AESL) is poised to inject fresh perspectives and steer the company in new directions, particularly given the vacuum created by Abhishek Maheshwari’s departure. As Byju’s, the parent company, oversees this transition, they likely aim to capitalize on Mehrotra’s skills and knowledge to bolster AESL’s standing in the educational technology sector. It will be fascinating to observe the strategic measures Mehrotra introduces to foster expansion and inventive solutions within the organization.
Mehrotra expressed his gratitude at joining AESL, a renowned leader in education, and expressed excitement about collaborating with the skilled team to provide top-notch education and support students in realizing their capabilities fully. AESL stated that appointing Mehrotra is a crucial step in its strategic plan to improve its services and extend its influence in the education sector.
Byju Raveendran, the founder and Chairman of Byju’s, emphasized that as CEO, Deepak Mehrotra will be tasked with executing their ambitious growth strategy and capitalizing on the substantial momentum AESL is currently enjoying. Raveendran highlighted Mehrotra’s strong business acumen and successful tenure as Managing Director at Pearson India, which will be instrumental in guiding Aakash BYJU through its next phase of expansion and influence. According to the company, Mehrotra brings 35 years of leadership experience across various sectors including FMCG, telecommunications, and education. Before joining AESL, he held the position of Managing Director at Ashirvad Pipes and has previously held roles at Pearson India, Bharti Airtel, Coca-Cola, and Asian Paints.
Deepak Mehrotra, an alumnus of IIT Roorkee with a degree in electrical engineering, has also completed an Executive program at The Wharton School in Philadelphia, USA. Shailesh Haribhakti, Chairman of AESL, expressed enthusiasm about Mehrotra’s appointment, citing his strategic vision and operational expertise as crucial for consolidating the organization’s leadership in the industry.
Aakash Educational Services Limited (AESL) has emerged as Byju’s most successful acquisition, particularly significant amid challenges faced by the tech giant. These challenges include significant financial losses, difficulties in securing fresh capital, delays in financial reporting, and legal disputes with creditors.
According to data from the business intelligence platform Tofler, AESL witnessed remarkable growth in revenue, increasing by 44.6% to Rs 1,421 crore in FY22 from Rs 983 crore in FY21. Additionally, the company’s net profit surged by 82.2% year-on-year to Rs 79.5 crore in FY22.
Source: Business Standard
