In May, Ola announced laying off 1,400 employees, or over 33 per cent of its workforce, as Covid-19 continued to pound the transportation industry.
Two top executives at ride-hailing platform Ola
-- Arun Srinivas and Sanjiv Saddy -- have resigned from the company, confirmed the Bengaluru-based company.
“Arun Srinivas, chief sales and marketing officer and Sanjiv Saddy, SVP- corporate affairs, are moving on to pursue other opportunities outside of Ola.
The organization wishes them well in their future endeavours,” said Ola.
A former category vice president at fast-moving consumer goods company Unilever, Srinivas had joined Ola last year after a stint at private equity firm Westbridge Capital Partners, where he led consumer vertical investments.
At Ola, he headed the India business and was responsible for earnings, and profit and loss. He led globally functions such as marketing, revenue, support and experience and all mobility categories like cabs, bikes and auto rickshaws. Srinivas also helmed Ola's business launch in London.
The other executive, Sanjiv Saddy is an experienced senior corporate affairs and government relations and finance professional with expertise in areas such as e-commerce, telecommunications and public affairs. A former Tata Communications executive, Saddy joined Ola last year after a stint as senior vice-president at e-commerce company Flipkart.
These exits follow that of Nitin Gupta, CEO of Ola Financial Services, who resigned in May. In the same month Ola announced laying off 1,400 employees, or over 33 per cent of its workforce, as Covid-19 continued to pound the transportation industry. The SoftBank-backed company had to take this step because the situation was not expected to improve soon.
Ola said its revenue had come down 95 per cent over the past two months. Most importantly, the company had said this crisis had affected the livelihoods of millions of its drivers and their families across India and international geographies.