New Delhi– Founder and Chief Executive Officer (CEO) of upGrad-owned edtech company Knowledgehut Subramanyam Reddy has resigned after serving nearly 13 years at the company.

Following his departure, the company appointed Asheesh Sharma as the new head with effect from January 2.

A company spokesperson told IANS on Tuesday, “upGrad and its division Head, Subramanyam Reddy of erstwhile KnowledgeHut have mutually decided to terminate the employment, effective December 5, 2023, with no notice period. The foundation he’s built will continue to thrive.”

“We are pleased to announce the appointment of Asheesh Sharma — President, Short Courses and Bootcamps, effective January 2, 2024,” it added.

Sharma, with a rich professional background in education spanning more than two decades, assumes a pivotal role at upGrad KnowledgeHut. He will lead P&L growth, bring new programme innovations to the fore, and expand its core offerings internationally, the company mentioned.

KnowledgeHut is a knowledge training company for individuals and corporate offices. It operates across 70 countries and six continents.

In addition to offering off-the-shelf accredited training courses, it also customises training content to cater to the diverse and specific needs of customers across various domains.

The company reported revenue of Rs 53.36 crore in FY23 with a loss of Rs 98.92 crore, according to startup data intelligence platform TheKredible. (IANS)