Ola Electric, a leading electric two-wheeler company, has announced the resignations of its Chief Product and Technology Officer, Suvonil Chatterjee, and Chief Marketing Officer, Anshul Khandelwal, according to a regulatory filing.
Chatterjee, who started at OE six years ago as the Head of Design, contributed significantly to the development of important products like Ola Krutrim and Ola Maps. He was later promoted to Chief Product and Technology Officer in 2021.
Ola Electric CMO and CTO Resign
Ola Electric Mobility’s Chief Marketing Officer (CMO), Anshul Khandelwal, and Chief Technology Officer (CTO), Suvonil Chatterjee, resigned with immediate effect on Friday, December 27, 2024. According to a regulatory filing, both executives stepped down due to personal reasons.
In the filing, Ola confirmed the resignations, stating, “Mr. Anshul Khandelwal, Chief Marketing Officer, and Mr. Suvonil Chatterjee, Chief Technology and Product Officer, have tendered their resignation effective December 27, 2024.” These resignations contribute to the growing list of senior-level departures at the company in recent years.
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Senior Executives Depart from Ola Electric Mobility
Ola Electric Mobility has seen several high-level departures recently. Khandelwal, who joined Ola in 2019 following the Foodpanda acquisition, initially served as Head of Marketing. He later became the Chief Marketing Officer (CMO) of Ola Electric in 2022. Meanwhile, Chatterjee, who joined the company in 2017 as Head of Design, was promoted to Chief Technology and Product Officer in 2021.
Earlier this year, Pramendra Tomar, the company secretary and compliance officer, also left the firm. In December 2024, N Balachandar, the Chief People Officer, resigned. These exits follow a recent layoff of around 500 employees at OE.
The departures coincide with the company’s major retail and service network expansion. Ola Electric is aiming to increase its store count from 800 to 4,000, with a remarkable 3,200 new stores launched in a single day. The move is part of a broader effort to enhance its local presence and address growing customer complaints about service quality.
Ankush Aggarwal, Group Head of Financial Services and Retail Auto Business, shared on December 26 that Ola Electric has successfully expanded its showrooms and service centers to 4,000 locations.
In addition, reports from Reuters highlight that the Indian Ministry of Heavy Industry ordered an audit of service hubs in October. The Central Consumer Protection Authority also issued a notice that month over allegations of misleading ads, customer rights violations, and unfair trade practices.
These challenges have impacted market share, which dropped from 32.6% in November 2023 to 24.5% this year. After a strong market debut, the company’s shares have fallen by around 35% from their peak in August, closing at ₹90.09 on the BSE with a 3.68% decline on Friday.
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FAQs
Q.1. Why did Ola Electric’s CMO and CTO resign?
Ans. Both Anshul Khandelwal and Suvonil Chatterjee resigned due to personal reasons.
Q.2. What roles did Anshul Khandelwal and Suvonil Chatterjee hold at Ola Electric?
Ans. Anshul Khandelwal was the Chief Marketing Officer (CMO), and Suvonil Chatterjee was the Chief Technology and Product Officer (CTO).
Q.3. How is Ola Electric expanding its retail network?
Ans. Ola aims to increase its store count from 800 to 4,000, launching 3,200 new stores in a single day as part of its expansion plan.
Q.4. What challenges is Ola Electric currently facing?
Ans. Ola is dealing with a decline in market share, customer complaints over service, and regulatory scrutiny regarding misleading ads and unfair trade practices.
Q.5. How has Ola Electric’s market share changed recently?
Ans. Ola’s market share dropped from 32.6% in November 2023 to 24.5% in 2024, reflecting challenges in maintaining its leadership in the e-scooter market.
