Ola planning to hire a veteran Unilever executive as CEO for cab business: Report

Years after managing two different verticals of the company, Ola founder and CEO Bhavish Aggarwal is mulling over to appoint a CEO for its cab business reported Economic Times. 

The new CEO, possibly an ex-Unilever executive, is likely to join the company early next week, reported Economic Times citing sources. Till now, CEO Bhavish Aggarwal has remained the CEO of the company and managed its cab business along with e-scooters verticals. 

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Mint could not independently verify the news. So far, he managed to entrust a number of executives to handle the day to day affairs at the cab business after the launch of Ola Electric. It is unclear whether the new CEO will lead ANI Technologies, the umbrella entity which manages Ola Cabs its subsidiaries along with Ola Financial Services or just the Ola cab business.

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According to the ET report, the new CEO for Ola Cabs is expected to be a former executive of FMCG major Unilever. The incoming CEO was earlier based in Southeast Asia and had held the role of the country head of Unilever Indonesia. One of the possible names for the post of CEO would be Hemant Bakshi, reported ET citing sources. Hemant is currently posted as the global head and executive vice president of Unilever Marketplace in Singapore.

Earlier, Hemant Bakshi held the leadership position of president and director in Unilever Indonesia. His career started in the company from India thirty three years ago.

Ola cabs enjoy a dominant market share in India. On the other hand, Ola electric is also performing well in the wake of rising demand for electric vehicles sin India. It is expected that the market of e-scooters will expand in the coming years. Months ago, the company CEO Bhavish Aggarwal shared the IPO plan of Ola Electric. The company began selling electric scooters in late 2021. Sharing the IPO plan of Ola Electric, Bhavish said that he is expecting to launch the company's IPO in next four to six years.