Ola Cars yesterday announced that its CEO, Arun Sirdeshmukh, had resigned from his position just seven months after joining the company. Sirdeshmukh joined the company in October 2021. Nevertheless, this news closely follows the group’s decision to expand the role of CFO GR Arun Kumar.
During the announcement, the company said that with Sirdeshmukh’s exit, Kumar’s roles will increase further. “Both of CEO’s roles, GTM as well as Ola Cars, will now be under Arun Kumar GR as part of his expanded role,” said the spokesperson.
Even as Ola Cars is working on its listing plans, the sources said that the company is still very uncertain about the IPO. Sources also said that Sirdeshmukh, who has over 30-years of experience in the industry, was supposed to lead the IPO and also be at the forefront of fundraising plans. They also believe that Sirdeshmukh’s decision to leave the company might have something to do with the uncertainty of IPO.
Since 2020, Ola Cars has seen some major attrition, especially among the top management. CFO Swayam Saurabh, COO Gaurav Porwal, Ankit Jain and Anand Shah, the co-founders of Ola Electric, are just a few people who have left the company. Some sources say that group strategy head Amit Anchal might also quit his position at the company.