Ola Electric Mobility's Chief Marketing Officer (CMO), Anshul Khandelwal, and Chief Technology Officer (CTO), Suvonil Chatterjee, resigned with immediate effect on Friday, December 27. The homegrown electric vehicle (EV) manufacturer said in a regulatory filing to the stock exchanges today that both Khandelwal and Chatterjee resigned due to personal reasons.
“We hereby inform you that Mr. Anshul Khandelwal, Chief Marketing Officer, and Mr. Suvonil Chatterjee, Chief Technology and Product Officer, have tendered their resignation with effect from December 27, 2024,” said Ola Electric Mobility in its stock exchange filing on Friday. These recent departures have added several senior-level exits at Ola in the past few years.
Khandelwal joined Ola in 2019 after Foodpanda acquisition, where he worked as Head of Marketing. He took on the role of Head of Marketing at Ola Foods before becoming the CMO of Ola Electric in 2022. On the other hand, Chatterjee joined Ola in 2017 as Head of Design and was later promoted to Chief Technology and Product Officer in 2021.
Earlier this year, Pramendra Tomar, the company secretary and compliance officer, also left Ola Electric Mobility. In December 2024, Ola Electric's Chief People Officer, N Balachandar, also resigned. The senior-level exits occurred shortly after the EV major laid off around 500 employees last month.
Also Read: Bhavish Aggarwal’s Ola Electric opens 3,200 new stores, launches limited-edition S1 Pro Sona model
Also, the timing of the exits comes days after the major expansion of its retail and service network, which aims to increase its number of stores from 800 to 4,000. Ola Electric Mobility Ltd. announced the opening of 3,200 new stores in a single day, as India’s biggest e-scooter maker seeks to expand its local footprint and address customer frustration related to shortcomings in service.
Ankush Aggarwal, group head of financial services and retail auto business, said at an event on Wednesday, December 26, that the Bengaluru-based company has increased the number of showrooms and service centres to 4,000.
According to news agency Reuters, India’s heavy industry ministry ordered an audit of the firm’s servicing hubs in October, and the Central Consumer Protection Authority served a notice in October over alleged violations of customer rights, misleading ads, and unfair trade practices.
This led to a market share loss for the sector leader—it dropped to 24.5 per cent in November compared to 32.6 per cent in the same month last year. After the strong listing, Ola Electric shares are now trading about 35 per cent lower from their peak in August. On Friday, shares of Ola Electric settled 3.68 per cent lower at ₹90.09 apiece on the BSE.
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