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Ola Cabs CEO Hemant Bakshi Steps Down Amidst Restructuring Plans

Hemant Bakshi, who served as the CEO of Ola Cabs, the ride-hailing platform of ANI Technologies, has resigned from his position after just four months. This decision coincides with reports of an imminent restructuring initiative within the company, which is anticipated to affect around 10% of the workforce, as per a Moneycontrol report.

Bakshi’s resignation takes immediate effect, following his appointment in January.

According to the report, “With this restructuring, certain roles within the organisation will be rendered redundant and could impact as much as 10 percent of the workforce.”

According to Moneycontrol reports “Ola Cabs’ CEO Hemant Bakshi would be moving out of Ola to pursue interests and opportunities outside of the company… (Bhavesh) Aggarwal will be looking after day-to-day operations and there will be a new appointment soon.”

In a recent strategic decision, Ola Cabs opted to cease its international operations in select countries. This move was influenced by heightened competition, governmental targets for fleet electrification, and the company’s renewed focus on the Indian market.

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