Ola Electric experienced a significant drop in its stock price, falling 4.6% to an intraday low of Rs 85.93 on the Bombay Stock Exchange (BSE). This decline came after two top executives—Chief Technology and Product Officer Suvonil Chatterjee and Chief Marketing Officer Anshul Khandelwal—resigned from the company. Their resignations, effective from December 27, 2024, mark yet another round of senior-level exits under the leadership of Bhavish Aggarwal.
Chatterjee, who had been with Ola since 2017, initially joined as Head of Design before transitioning into the role of CTO and CPO at Ola Electric. Khandelwal, who had joined in 2018 as Head of Marketing, also worked with Ola Cabs before moving to Ola Electric. Both played crucial roles in shaping the company's growth in the electric vehicle segment.
These resignations add to a list of significant departures at Ola’s ventures this year, including within its AI division, Krutrim. Earlier in 2024, Sidharth Shakdher, the Chief Business Officer for Ola Consumer, resigned after just nine months to join Paytm, while Mahesh Alanthat, Vice President and Head of Sales at Ola Electric, also stepped down in October.
The continuous exodus of senior leaders has raised concerns about the company’s stability, affecting investor confidence and reflecting in the stock market performance.
