Ola Electric faces top-level exits ahead of planned listing

In preparation for its anticipated public listing in 2024, Ola Electric, the electric vehicle (EV) manufacturer, has encountered significant departures at the leadership level.

Key Executives Step Down

The company’s head of strategy and planning, Slokarth Dash, and head of growth and corporate affairs, Saurabh Sharda, have both tendered their resignations from Ola Electric.

Company’s Response and Rejection of Additional Claims

A representative from Ola confirmed the departures, acknowledging the contributions of Dash and Sharda over their seven-year tenures. The company dispelled additional reports of two more senior executives resigning, dismissing these claims as a “mischievous attempt” to fabricate a false narrative.

Ola’s Emphasis on Strong Leadership

Ola refuted the alleged departures, highlighting its robust and experienced leadership team. The company cited the recruitment of over 50 industry veterans in the past year, underlining its status as a prominent player in India’s growing tech landscape.

Impact on Ola Electric and Upcoming Listing

Both Dash and Sharda were instrumental figures working closely with Ola Electric’s founder and CEO, Bhavish Aggarwal. As Ola Electric gears up for its high-profile $1 billion public listing next year, these departures may spark questions about leadership stability within the company, amidst other challenges such as the cut in incentives under the FAME-II scheme and reported revenue shortfalls.

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