Ather Energy CFO Deepak Jain to leave, Sohil Parekh named successor

Electric vehicle maker Ather Energy's Chief Financial Officer Deepak Jain will be leaving the company after a four-year stint. Sohil Parekh, who is the senior finance controller, will succeed him in the role, said an internal communication. These changes come at a time when Ather is gearing up for a public listing next year, and months after it raised funds from existing investors Hero MotoCorp and GIC through a rights issue.

Ather co-founder Tarun Mehta announced these changes in an email to employees. "Deepak and I have been planning this for a while and after an extensive search, both externally and internally, we’re taking a bet on our internal talent again. I am thrilled to announce that Sohil Parekh will be taking the reins as our new chief financial officer, effective April 1, 2024. In the coming weeks, Deepak will be working closely with Sohil to ensure a smooth transition,” he wrote.

“Deepak has been instrumental in our company's growth during this time, navigating us with sharp wit and even sharper strategy. He was at the centre of two massive changes that came our way - Covid and its aftermath, and the entire FAME 2 journey - and we wish him the best,” Mehta added in his email.

Ather Energy, one of the first electric two-wheeler startups in India, is preparing for its initial public offering (IPO) in the next 12 months, close on the heels of rival Ola Electric, which recently filed its Draft Red Herring Prospectus with the market regulator.