Ola Cars CEO Arun Sirdeshmukh has resigned from his position less than a year after his appointment, the company said on Thursday. He was appointed as the CEO of Ola's vehicle commerce business in October 2021.
Sirdeshmukh's exit comes seven months after the launch of Ola Cars, even as the company struggles with its listing plans.
Ola's vehicle commerce platform, Ola Cars, was launched last year with an aim to diversify from being a ride-hailing service firm to a mobility firm by catering to the purchase of both new and pre-owned vehicles through the Ola App.
"Amit was supposed to lead Ola's IPO and also played a key role in fundraising but with listing plans uncertain for now, he has decided to move on," a person familiar with the matter was quoted as saying in a report by Moneycontrol.
The report, citing sources, also said that its chief of group strategy Amit Anchal is also leaving the company. The company, however, has denied reports of resignation of Anchal.
Since 2020, Ola has seen five to six senior level exits. Among those who have quite their positions at the company are Chief Financial Officer Swayam Saurabh, Chief Operating Officer Gaurav Porwal, HR head Rohit Munjal and General Counsel Sandeep Chowdhury.
Ankit Jain and Anand Shah, the co-founders of Ola Electric, have also left the company. While Jain, the closest confidants of Ola's Bhavish Aggarwal, stepped down from his role in 2020, Shah left the firm later.
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