Corporate Exodus Hits Ola Electric Hard: 32 High Profile Exits In 60 Days Is Something Serious & Worrisome
Ola Electric is witnessing a literal corporate exodus as recently Yashwant Kumar, Senior Director and Business Head of Charging Network at Ola Electric Mobility has quit. It marks it as the number 32nd resignation in a period of just last two months.
Series of High-Profile Resignations
His resignation came soon after the resignation of Ranjit Kondeshan who was deputed as Director of Human Resouces (HR) at Ola Electric.
Yashwant Kumar previously worked with of Procter & Gamble for over 5 years, in the product and brand marketing division and had joined Ola Electric in March 2021.
In April month this year, citing “personal reasons” chief marketing officer Varun Dubey also put his papers.
After a brief stint at Ola, which he joined in May last year, chief technology officer (CTO) Dinesh Radhakrishan also left the organization.
Nidhi Chaturvedi who currently is working with Amazon, quit her job in the month of May. She was working with Ola Electric as a regional head.
Ola Shuts Down Used Car Business and Quick Commerce Business
Eight months after the used car buying and selling platform Ola Cars was officially shuttered to focus on its burgeoning electric vehicle unit and mobility business, the head of that department, Arun Sirdeshmukh also left.
Not just the used car buying and selling platform, the last-mile delivery business, Ola Dash, has also been shuttered.
As per the company, the infrastructure, technology and capabilities of Ola Cars will “be repurposed towards growing our Ola Electric sales and service network”.
These high level resignations have turned out to be a bolt out of the blue after the company received a lower valuation after going public than anticipated earlier due to sombre stock market conditions