Ola Cabs CEO Hemant Bakshi Resigns; Company Plans 10% Job Cuts

Hemant Bakshi, who served as the CEO of Ola Cabs, has resigned from his position after only four months. This departure coincides with the company's plans to undergo a restructuring effort that is expected to impact approximately 10 per cent of its workforce, according to media reports.

Bakshi, who assumed the role in January to oversee the company's day-to-day operations, has stepped down with immediate effect. As part of the restructuring, certain positions within the organisation will become redundant, leading to potential job cuts.

In addition to Bakshi's resignation, Ola Cabs has announced several new appointments in recent weeks. Kartik Gupta has been appointed as the Chief Financial Officer (CFO), while Sidharth Shakdher has taken on the role of Chief Business Officer (CBO).

Despite these changes, Bhavesh Aggarwal, the founder of Ola, will continue to oversee the company's daily operations. Furthermore, the company has disclosed plans to fill the vacant CEO position with a new appointment in the near future.

Established in 2010, Ola Cabs quickly garnered support from prominent investors such as SoftBank and Tiger Global.