Ola Electric shares drop nearly 4% following resignations of CMO and CTO

Ola Electric Mobility Limited witnessed its shares decline by 3.85% to ₹86.70 in early trade on December 27, following the resignation of two top executives. Anshul Khandelwal, Chief Marketing Officer, and Suvonil Chatterjee, Chief Technology & Product Officer, tendered their resignations, citing personal reasons.

Key Developments:

• Resignations: Both executives officially stepped down on December 27, 2024.
• Reasons: Personal reasons were cited in their resignation letters.
  • Khandelwal expressed gratitude for the opportunities at Ola and requestedto be relieved of his duties immediately.
    • Chatterjee thanked Ola’s management and employees, stating it was a privilege to be part of the company’s journey.

    Market Impact:

    • Share Performance: Ola Electric’s shares were trading at ₹86.70, down 3.85%, as of 9:15 AM. The market reacted negatively to the news of these high-profile departures.

    Statements from the Executives:

    • Anshul Khandelwal:
      “It has been an incredible journey, and I am grateful for the opportunities to contribute to Ola’s inspiring vision. However, due to personal reasons, I request to be relieved of my duties effective today,” Khandelwal wrote in his resignation.
    • Suvonil Chatterjee:
      “It has been a privilege to be a part of this amazing journey. I want to thank everyone at Ola for their support and love. Wishing you, Bhavish, and the entire Ola family the very best,” Chatterjee stated.

OLA ELECTRIC MOBILITY LTD Share Price history