Ola Cars CEO Arun Sirdeshmukh has resigned from his position less than a year after his appointment, the company said on Thursday. He was appointed CEO of Ola’s car business in October 2021.
Sirdeshmukh’s departure comes seven months after Ola Cars launched, as the company struggles with its listing plans.
Ola’s vehicle trading platform, Ola Cars, was launched last year with the aim of diversifying from a service business to a mobility business by targeting the purchase of both new and used vehicles through the Ola app.
“Amit was to lead Ola’s IPO and also played a key role in the fundraising, but as plans for the show are uncertain for now, he has decided to go ahead,” said a person familiar with the matter in a report from money control.
The report, citing sources, also said group strategy chief Amit Anchal is also leaving the company. However, the company has denied reports of Anchal’s resignation.
Since 2020, Ola has seen five to six senior-level exits. Among those who quite hold their positions with the company are Chief Financial Officer Swayam Saurabh, Chief Operating Officer Gaurav Porwal, HR Chief Rohit Munjal and General Counsel Sandeep Chowdhury.
Ankit Jain and Anand Shah, the co-founders of Ola Electric, have also left the company. While Jain, the closest confidant of Ola’s Bhavish Aggarwal, resigned from his position in 2020, Shah later left the company.