SUMMARY
Ola’s group CFO Arun GR is said to be driving day-to day operations at Ola
Aggarwal said he will be focusing more on engineering functions, team building, and product
Aggarwal clarified on Twitter that he is not retiring and instead Arun will help with Ola’s operations
Bhavish Aggarwal, founder of ride hailing platform ola
and EV two wheeler manufacturer Ola Electric will be stepping down from day to day operations of the company’s core businesses and focus more on the new and upcoming businesses.
MoneyControl reported, Agarwal in an internal mail informed that Ola’s group chief financial officer (CFO) Arun GR will drive day-to-day operations across the group. Arun who had joined Ola last year from Vedanta Resources was also the CFO of Ola Electric and Ola Financial Services.
As per the internal mail, Agarwal said that he will be utilising more of his time with engineering functions, team building, and on product. He will be spending more time on two wheeler business, car projects, quick commerce, electrifying ride hailing, among others.
He will also be overseeing international expansion, building Pune tech centre, and Future Foundry.
Agarwal took to Twitter to clarify that he is not retiring and instead said Arun will help him manage Ola’s operations.
“We will accelerate ambitious new projects like our car, cell, gigafactory etc. & deepen focus on tech & engineering. More soon,” he posted on Twitter.
The development seems to be in line with Ola’s plan for an IPO. It is a common phenomenon that a company heading for an IPO rejig’s internal management structure. With all that said, it cannot be overlooked that Aggarwal’s Ole Electric has been receiving flak for poor build quality of the delivered scooters. In one of the instances, an Ola Electric scooter in Pune was further seen burning.
Couple of days back, the Road Transport Ministry had asked the Centre for Fire, Explosive, and Environmental Safety to investigate the fire incident on the Ola Scooter. Apart from this, untimely delivery of the Ola Scooter is another issue that Ola’s Electric team has been facing on a day-to-day basis.
