At least 16 top executives have left Ola in the last two years
- At least 16 top executives have resigned from Ola in the last two years.
- These exits have come from different verticals, including Ola Cabs, Ola Cars, Ola Electric and Ola Financial services.
- Even cofounder Ankit Bhati left Ola in 2020 to start another company with former colleagues.
AdvertisementRide hailing giant Ola — run by ANI Technology — has been undergoing a series of high profile exits as it plans to take the public route by the end of this financial year. While the company has blamed some of these exits on “management restructuring”, the cause of others has been largely unknown.
According to Business Insider’s calculations, at least 16 top executives have resigned from Ola in the last two years. These exits have come from different subsidiaries of ANI Technology, including Ola Cabs, Ola Cars, Ola Electric and Ola Financial services.
The latest one to announce his departure is Ola Electric’s Chief Marketing Officer Varun Dubey, who has been associated with Ola since 2019. Dubey has been the face of the company, fielding media queries and criticism around the vehicles produced by Ola Electric.
Ankit Bhati, who founded Ola along with Bhavish Aggarwal in 2010, left the company in 2020. According to media reports, Bhati along with a few other former colleagues is launching a new startup called Amnic, which will be backed by Sequoia Capital.
Source: Media Reports, LinkedIn
|Varun Dubey||Chief Marketing Officer at Ola Electric||December 2019||May 2022|
|Arun Sirdeshmukh||Chief Executive Officer at Ola Cars||October 2021||May 2022|
|Dinesh Radhakrishnan||Chief Technology Officer at Ola||May 2021||May 2022|
|Sandeep Chowdhury||General Counsel at Ola||February 2021||November 2021|
|Swayam Saurabh||Chief Financial Officer at Ola||April 2021||February 2022|
|Gaurav Porwal||Chief Operating Officer at Ola||October 2019||October 2021|
|Ankit Bhati||co-founder and Chief Technology Officer at ANI Technologies||2010||August 2020|
|Rohit Munjal||Chief Human Resources Officer at Ola||March 2015||November 2021|
|Nitin Gupta||Chief Executive Officer at Ola Financial Services||December 2017||August 2020|
|Sanjiv Saddy||Ola’s senior vice president||December 2019||July 2020|
|Arun Srinivas||COO and global chief marketing officer||July 2019||September 2020|
|Sanjay Bhan.||Chief Business Officer at Ola||December 2019||September 2020|
|Naroo Krishnan||Head of products at Ola Mobility||January 2018||January 2020|
|Sanjay Kharb||vice president for engineering||February 2017||January 2020|
|Ankit Jain||Co-founder of Ola Electric||March 2016||March 2019|
|Anand Shah||Co-founder of Ola Electric||February 2018||October 2019|
That’s not all. ANI Technologies — the parent company of ride hailing giant Ola and e-mobility company Ola Electric — has also laid off about 2,100 employees in the first quarter of 2022. According to a report by Economic Times, Ola has undergone massive restructuring in its quick commerce business, leaving 2,100 contract workers out of jobs. The company has reportedly been scaling down its 200 dark stores as well.
The company also laid off 1,400 employees in May 2020 due to Covid-19.
Ola’s series of high profile exits and restructuring comes at a time the company has been looking to go for an initial public offering (IPO) by the end of this financial year. The company has already raised over half a billion dollars in its pre-IPO round and is currently valued at $5 billion.
L&T, PNB, Hindalco Industries among stocks to watch out for on May 12
Delhivery IPO: Company review in 10 points before applying for the IPO
Pixel 6a, Pixel Watch, Pixel Buds Pro, Pixel 7 teaser and everything announced at Google I/O 2022
Popular on BI
- L&T, Tata Motors, RBL Bank, Matrimony.com among stocks to watch out for on May 13
- Last day to apply for Delhivery IPO; grey indicates a discounted listing
- Sony PS5 will be up for pre-booking in India on May 13: Where, how to buy
- Retail inflation rises to eight year high in April as food prices spike
- Asus Zenbook 14X OLED Space Edition review – a combination of interesting design and solid performance