Unacademy CEO Gaurav Munjal Steps Down After upGrad Deal
Gaurav Munjal is moving from CEO to executive chairman of Unacademy, two months after upGrad acquired the edtech startup. Akhilendra Kumar takes over as chief executive.
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giftdetect· the right gift in minutesUnacademy cofounder Gaurav Munjal is stepping down as chief executive of the test-prep platform, just two months after rival upGrad completed its acquisition of the company. He will move into the role of executive chairman.
Announcing the change in a LinkedIn post, Munjal said Akhilendra Kumar, currently Unacademy's chief business officer, will take over as CEO. Munjal described Kumar as "one of the sharpest operators I know" and said he is proud to have him lead the company into its next chapter.
Not leaving, says Munjal
Munjal was explicit that the move is not an exit. "To be clear, I'm not going anywhere," he wrote, adding that he will stay fully involved in day-to-day operations and work alongside Kumar. He also said he will help with upGrad's initial public offering (IPO).
Context of the acquisition
The leadership reshuffle follows upGrad's completion of the Unacademy acquisition in September, in a deal valued at just over $200 million. Munjal's tenure as CEO had lasted roughly a decade.
For Unacademy's staff, learners and educators, the change puts an internal operator, rather than an outside executive, in charge of the business under its new owner. For upGrad, keeping Munjal close as chairman suggests continuity during integration, while the company's IPO plans remain a stated priority.
No further details on the structure of the new leadership team or the IPO timeline were given in the announcement.
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