Investment major Prosus has initiated an internal restructuring, segregating its edtech and food delivery segments into distinct entities, each with dedicated leadership. This strategic shift is set to take effect from September 1, aimed at bolstering operational efficiency and focused leadership.
Dedicated Leadership Teams for Edtech and Food Delivery
An internal memo from the company’s highlighted the impending change. The company stated, “As of September 1, we will separate food delivery and edtech into two discrete segments, each with its dedicated leadership team. These segments began as early-stage investments that diligently grown into world-class portfolios.”
Leadership Changes and Appointments
Larry Illg, who formerly headed the combined foodtech and edtech segment, will step down. Gautam Thakar, the CEO of OLX Autos, will take the helm as the CEO of global edtech vertical. Roger Rabalais, previously the CFO for the food delivery and edtech segments, will assume the role of CEO for the food segment.
Prosus’ Focus on India
Gautam Thakar’s leadership role will extend beyond edtech. The internal memo revealed, “As a member of the global executive team and based out of Mumbai, Gautam will also take on a broader leadership role for Prosus in India.” This expanded role will involve supporting Prosus’ growth and existing investee companies in India.
Prosus’ Portfolio and Recent Developments
Prosus, which has invested over $6 billion in India, recently divested OLX India’s business to CarTrade. The reshuffle will see Thakar and Rabalais represent Prosus on the boards of the company’s portfolio firms. Prosus’ India portfolio includes startups like Swiggy, BYJU’S, and Eruditus in the food delivery and edtech segments. The investment giant’s investments span global food delivery and edtech companies, contributing to its extensive presence in these sectors.
