News India

 Hemant Bakshi took over as CEO of Ola Cabs just four months ago. His resignation coincides with the company's restructuring efforts.

According to sources, the company is planning to downsize its workforce by at least 10%. Several senior executives may also face repercussions following Hemant Bakshi's departure. Bakshi's resignation comes just four months after he assumed the position in January 2024. Reports suggest that Bakshi was interested in working with another company rather than Ola. A new CEO announcement could be made soon.

The company has been experiencing significant internal changes lately. Ola Cabs has been in discussions with various investment banks about bringing in an IPO. Additionally, the company has appointed Kartik Gupta and Siddharth Shakdher as its new CFO and COO. Ola Cabs has also shut down its international operations in Britain, Australia, and New Zealand, focusing its efforts on the Indian market. The company aims to expand its services to over 100 million Indian users.

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