Shareholders voted to allow the company and board to explore changes in the board structure. This aims to increase shareholder representation, get independent input, and improve corporate governance by addressing compliance issues.
Shareholders approved board reforms: stronger shareholder voice, independent input, and better governance. The board can propose a new 9-member board (founder, executives, shareholders & independents) at next meeting (30 days).
Shareholders approved appointing a forensic expert within 30 days to investigate acquisitions, potential breaches, regulations, tax filings, and payments made by the company. The expert will recommend improvements.
Shareholders approved removing Byju Raveendran as CEO, and Divya Gokulnath & Riju Raveendran from management, due to worries about declining shareholder value. The board can consider further leadership changes based on performance.
Shareholders approved appointing an interim CEO and search firm within 10 days to find a permanent CEO for the company. This comes after concerns about the performance of the founders and current leadership team.
Shareholders voted to restrict founders from transferring shares or interests in subsidiaries like Aakash until further notice, citing ongoing issues and breaches of company obligations.
Shareholders empowered the board's executive members to take necessary actions to implement the approved resolutions, prioritizing the company's best interests.
BYJU’S At War: Here Are The Resolutions Passed By Investors At Extraordinary General Meeting