Ola Electric shares skid 3% after slew of high level exits continue; CMO, CTO resign

Ola Electric have fallen over 12 percent in the past three months.

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Shares of Ola Electric Mobility came under fire on December 30, slipping over 3 percent after the slew of high level exits in the company continued with the latest resignations of its Chief Marketing Officer and Chief Technology & Product Officer.

Anshul Khandelwal, the company's Chief Marketing Officer, and Suvonil Chatterjee, Chief Technology & Product Officer, have stepped down from their roles, effective December 27, citing personal reasons. Both top level executives initially joined Ola's ride-hailing business before transitioning to Ola Electric Mobility. Chatterjee joined Ola in 2017 as Head of Design, while Khandelwal began his journey in March 2018 as Head of Marketing.

At 09.28 am, shares of Ola Electric Mobility were trading at Rs 87.44 on the NSE.

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Ola has been making the headlines for a series of high-profile exits in recent months across its various business verticals. Prior to the latest exits, N Balachandar, Group Chief People Officer, departed in November 2024 after overseeing HR for Ola Electric, Ola Cabs, and Krutrim AI.

In October, Ravi Jain, Business Head of Krutrim AI, and Sidharth Shakdher, CBO of Ola Mobility, left the company, with Shakdher moving to Paytm after spearheading key initiatives during his nine-month stint.

Ola Electric's VP and Head of Sales, Mahesh Alanthat, also resigned in October, while Ola Cabs CFO Kartik Gupta stepped down in May after a brief tenure. Early in 2024, Ola Cabs CEO Hemant Bakshi exited just three months into his role, prompting founder Bhavish Aggarwal to retake leadership. These departures have raised concerns over retention of senior talent in the Bhavish Aggarwal-led group, dampening investor sentiment.

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