The incumbent CFO, Ajay Goel, is returning to Vedanta Ltd, which he had quit in April.
The development comes as after a delay of more than 19 months, Byju’s is expected to announce its financial results for FY22 this month.
“I thank the founders and colleagues at Byju’s for helping me assemble the FY22 audit in three months. I appreciate the support received during a short but impactful stint at Byju’s,” said Goel.
Goel will transition after completing the formalities of the FY22 audit, the company said in a statement.
The edtech major said that Kanakia, how has held leadership positions at Price Waterhouse and KPMG, brings vast experience from a prominent career of over 35 years.
“I look forward to working with the Founders, Advisory Council and Nitin in navigating the transformation process at the company,” said Kanakia.
Golani was previously the Chief Strategy Officer at Aakash Education. He played a crucial role in Byju’s $1 billion acquisition of Aakash in 2021 and moved into an operating role at Aakash post-acquisition.
“Their experience, understanding and insights on business and finance will help us in our ongoing turnaround efforts,” said Byju’s Founders Byju Raveendran and Divya Gokulnath.
Golani said he would take up the new role alongside a dedicated team.
The company is likely to announce its financial results for FY22 this month.
The company said the audit of all the group subsidiaries has been completed and adopted.
Byju’s earlier missed its deadline to file the FY22 financial results in September. The company had convened a board meeting in the second week of October “for approval and adoption of accounts for FY22”.