Ola Electric’s human resources (HR) director Ranjit Kondeshan will be exiting the Bhavish Aggarwal-run electric mobility company on July 2, just 14 months after joining the firm, as per a report by IANS. According to his LinkedIn profile, Kondeshan joined Ola Electric Mobility from Visa, where he worked for three years in Mumbai. Before Visa, he was Senior HR Manager at Bajaj Allianz Life.
Kondeshan’s exit comes at a time when the EV company has seen a slew of exits across roles. When CNBC-TV18 reached out to Ola Electric, an official with the company, who did not want to be named, played down this as a trend, calling it a business-as-usual exit, “These are mid-level churns, not at a senior level — these churns happen in every organisation. As Ola, we get more attention than (any) other company. This is business as usual, no deductions to be made from it.”
The source further added that a company as large as Ola Electric will continue to have HR requirements and hence, the hiring process at the firm is ongoing to meet those requirements.
Here’s a look at some of the top exits at the company:
April 2022:
Chief marketing officer Varun Dubey left the company citing "personal reasons".
May 2022: Nidhi Chaturvedi Jha quit Ola Electric as regional head in May and joined Amazon.
May 2022: Dinesh Radhakrishnan, who was the chief technology officer (CTO) at Ola Electric, moved on from the company. According to his LinkedIn profile, he was appointed CTO at Ola Electric in May 2021.
At the group level too, employees continue to quit.
May 2022: Arun Sirdeshmukh, the head of Ola Cars, which is the used car commerce division of the company,
announced his departure from the company.
CNBC-TV18 had also reported that Ola has decided to close down its used car business Ola Cars, less than a year after it was launched. The shared mobility major has also decided to shut down Ola Dash, its quick commerce segment. Ola has so far shut down Ola Cafe, food panda, Ola Foods, and now Ola Dash.
In an official statement, Ola said that it has
shut down Ola Dash and will be recasting its cars business to focus more on strengthening its electric division.
Ola plans to increase pace of investments in electric cars, cell manufacturing, and financial services. Ola Electric surpassed Rs 500 crore in revenue in first two months of the ongoing fiscal and will be launching its second electric scooter before the end of the year.
Moneycontrol had reported recently that Ola, which had plans to list on the bourses this year, was looking to raise a new round of funding at a lower valuation, signifying a sharp reversal in fortune for startups after a record 2021 that saw sky-high valuations in the public and private markets.
First Published: Jun 28, 2022 2:42 PM IST
