News: Ola Electric's CBO Sanjay Bhan steps down

C-Suite

Ola Electric's CBO Sanjay Bhan steps down

The reason behind Bhan's decision is unknown and has come out as a surprise for the startup which is currently valued at Rs 7,490 crore ($1 billion).
Ola Electric's CBO Sanjay Bhan steps down

Ola Electric's Chief Business Officer, Sanjay Bhan has called it quits according to media reports. He was leading the marketing and sales for the company after 30 year-long stint with Hero MotoCorp.

The reason behind Bhan's decision is unknown and has come out as a surprise for the startup which is currently valued at Rs 7,490 crore ($1 billion).

Prior to joining Ola, Bhan was Head – Sales, Aftersales and Parts at Hero MotorCorp and played an instrumental role in the launch of Hero brand in 2011, after the fall-out of their joint venture with Honda Motor Company. Bhan had worked with Dunlop India for two years. He has done his MBA from Veer Narmad South Gujarat University.

Meanwhile, a number of senior executives have been transferred from Ola Cabs into the electric-mobility project, added the report.

Just two days back, Ola's Chief Operating Officer and Global Chief Marketing Officer Arun Srinivas had resigned. He is leaving the company exactly a year after he joined. In addition, Sanjiv Saddy, Senior Vice-president, policy and government affairs at Ola has also put in his papers. He served at Ola for only eight months.

Srinivas’s exit follows another high profile exit-that of Nitin Gupta, CEO of Ola Financial Services. The exit comes at a time when the ride-hailing firm is going through tough times. In May, the cab aggregator laid off 1,400 employees from rides, financial services, and food business as revenues declined by 95 percent in the last two months due to the coronavirus pandemic.

Also, the company underwent a sharp reduction in remuneration at the top level. In an email to employees in May, Aggarwal made it clear that the prognosis ahead for the business is "very unclear and uncertain" and the impact of this crisis is "definitely going to be long-drawn for us".

 

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Topics: C-Suite, #Movements

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