Ola group, within the information lately for its electrical scooter catching fireplace in addition to some manufacturing glitches, has rejigged its C-level suite, together with CEO Bhavish Agarwal and CFO GR Arun Kumar.
A supply conscious of the corporate’s operations instructed FE that as Ola seems to be to double down on future EV and mobility initiatives, some management modifications had been essential to streamline day-to-day operations.
Aggarwal introduced these modifications every week in the past to a choose group of Ola staff in an inside electronic mail.
The supply additionally mentioned Aggarwal will deepen his concentrate on constructing excessive progress companies and initiatives throughout Ola Electric and Ola’s core mobility companies. Kumar, presently group CFO at Ola and CFO at Ola Electric, can be given extra cost to supervise day-to-day operations.
“Under Bhavish’s leadership, Ola will continue to focus on strategic projects, including new 2W products, 4W projects, innovations in quick commerce, electrifying ride-hailing, Ola Financial Services, auto retail, cell R&D and manufacturing, among others. To drive scale, speed and quality, Ola has expanded group CFO Arun GR’s role to help and support Bhavish Aggarwal in day-to-day operations across the group,” the supply talked about above added.
An organization spokesperson confirmed the management modifications stating that Ola will focus extra on future initiatives akin to automobile and cell manufacturing out of India.
“As Ola focusses on accelerating ambitious new projects like car & cell manufacturing, gigafactories and electrifying ride-hailing business amongst others, the company is ensuring adequate focus on execution excellence and keeping entrepreneurial leadership high on the new businesses,” the spokesperson added.
Last month, a model new Ola S1 Pro EV scooter caught fireplace in Pune and the video of the incident went viral on the web. Around the identical time, a father and daughter died in Tamil Nadu after their new Okinawa EV scooter caught fireplace when left to cost in a single day. A Pure EV electrical scooter had additionally gone up in flames on the aspect of a busy highway in Chennai.
The authorities mentioned it has formally opened an investigation into a number of incidents of two-wheeler EVs catching fireplace, which specialists say are as a consequence of mismanagement in cell and battery tech in EV scooters.
Ola reportedly delivered greater than 9,000 scooters in March, overtaking current opponents akin to Ather Energy, Okinawa, and others.
Ola has seen an exodus of senior executives, together with throughout V-P and C-levels within the latest previous. The firm’s ex-chief monetary officer Swayam Saurabh and chief working officer Gaurav Porwal had give up their roles forward of the agency’s proposed IPO plans in November 2021. Saurabh was appointed Ola’s CFO lately in April 2021, whereas COO Porwal has additionally taken extra cost as head of Ola Fleet and Ola Foods throughout his tenure.
Ola’s EV venture is housed beneath a special entity, named Ola Electric Mobility Pvt Ltd. High-level and C-suite exits have been a seamless pattern at Ola since 2019, although the typical attrition charges at tech start-ups have been on the rise, particularly after the pandemic.
Prior to the C-level exit of Saurabh and Porwal, Ola’s co-founder Pranay Jivrajka, and Ola Electric co-founders Ankit Jain and Anand Shah, had left the corporate final 12 months.
Ola Financial Services CEO Nitin Gupta put down his papers final 12 months to pursue his personal enterprise, whereas Ola’s chief enterprise officer Sanjay Bhan additionally left the corporate in July 2020.
Source: www.financialexpress.com”