Brief by Shorts91 Newsdesk / 01:28pm on 29 Apr 2024,Monday India
Hemant Bakshi, Ola Cabs CEO, stepped down just four months into the role amid a restructuring effort expected to lead to a 10% job reduction. Bakshi, who joined in January, departs as the firm undergoes changes, including the closure of international operations in select countries. Kartik Gupta and Sidharth Shakdher were recently appointed CFO and CBO respectively. Ola's FY23 Mobility business saw a revenue surge of nearly 58%, reporting a positive EBITDA of ₹250 crore, a stark contrast to the ₹66 crore loss in FY22. The firm recently initiated IPO discussions.
