New Delhi, Nov. 11 -- Unacademy co-founder and CEO Gaurav Munjal is moving to the position of Executive Chairman, with Akhilendra Kumar set to take over as the edtech company's new chief executive officer.

Announcing the leadership change in a social media post, Munjal said he would continue to remain closely involved in the company's day-to-day operations and work alongside Kumar. He also said he would help with the upGrad IPO.

"Some personal news: I'm moving from CEO to Executive Chairman of Unacademy, and Akhilendra Kumar will take over as CEO. To be clear, I'm not going anywhere. I'll stay fully involved in operations every day, work alongside Akhilendra and help with the upGrad IPO," Munjal wrote.

Praising his successor, Munjal de...