Ola Electric Mobility’s stock fell 5.05 per cent to close at ₹85.39 on the BSE on Monday, following the resignation of two key executives.
Chief Marketing Officer Anshul Khandelwal and Chief Technology & Product Officer Suvonil Chatterjee stepped down effective December 27, citing personal reasons, the company announced in a regulatory filing.
The departures come amid the EV manufacturer’s aggressive expansion plans, having recently announced the growth of its retail network from 800 to around 4,000 stores nationwide. The company’s shares traded between ₹84.50 and ₹88.08 during the session, with the stock ending ₹4.54 lower than its previous close.
These exits add to a series of recent leadership changes at the Bhavish Aggarwal-led company. Earlier in December, N Balachandar, Chief People Officer of the Ola Group, left the organization, while Company Secretary Pramendra Tomar departed earlier in the year.
Chatterjee, who joined Ola six years ago as Head of Design, played a crucial role in developing key products including Ola Krutrim and Ola Maps. Khandelwal, who joined in 2019, previously served as Head of Marketing at Ola Foods before his promotion to CMO at Ola Electric.
The company, which claims to be India’s largest pure-play EV manufacturer, recently launched its new Gig and S1 Z scooter range with prices starting at ₹39,999, targeting both urban and rural markets.
