The Role of the Board of Directors in Corporate Governance: A Case Study of Byju's

Corporate Governance is weighted highly as the companies going globally and the stake holders of the companies increasing significantly. This chapter discusses about the board of directors in the governance structure of modern corporations by taking Byju’s as a case study—a company having been at the forefront of the list of edutech companies. The impact of the board composition, diversity, and functioning on the strategic direction, risk management, and overall performance of the company is, therefore, examined with respect to Byju’s. The chapter opens with a brief explication of the theoretical framework about corporate governance with respect to fiduciary duties and responsibilities of board members. The second is challenges which are specific to technology-driven firms like Byju’s: leapfrogging market changes, keeping pace with regulatory compliance, and impetus for innovation. The focus falls on the composition structure of the board: executive versus non-executive directors, experience counting independence. It sits through a review of how the board structure has undergone strategic development ever since Byju’s transitioned from just a start-up to a global edutech giant, overcoming problems arising from fundraising to international expansion and integration of acquisitions. There is also discussion on the role played by the board in developing the culture of compliance and ethical conduct and how it impacts the response of Byju’s toward external scrutiny and criticism. The chapter has insights into how effective the board is with regard to aligning the interests of shareholders, employees, and customers. This would be done through a complete review of board meetings, committee structures, and decision-making processes at Byju’s. Finally, there are lessons from the governance model of Byju’s, and recommendations to companies, including those in the technology sector, on how to improve the effectiveness of boards toward long-term sustainability and success.