Ola restructures firm after resignation of CFO and COO

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Following the resignation announcement of Ola Cabs’ Chief Financial Officer (CFO) Swayam Saurabh and the Chief Operating Officer (COO) Gaurav Porwal, the parent company of Ola, ANI Technologies Ltd has decided to restructure the roles of its key leaders, Chief Executive Officer (CEO) and co-founder Bhavish Aggarwal said on Tuesday. Anshul Khandelwal who was appointed as Ola’s Chief Marketing Officer (CMO) in March, will take on additional responsibility of increasing consumer revenue for the company.

Restructuring comes ahead of Ola’s IPO

Also, to drive synergies, Ola’s group Chief Financial Officer (CFO), G.R. Arun Kumar, will now be overseeing the finance function across all group companies, with all key finance leaders of the company now reporting directly to him. He had joined the company earlier this year.

Vinay Bhopatkar, who was handling the delivery business of Ola, which includes food tech and new ambitions such as groceries and hyperlocal, will also be taking additional responsibility for the driver and supply ecosystem of the mobility business, Ola Cabs.

The restructuring comes at a time, as the ride hailing company aims to file its draft prospectus to raise between $1.5 billion and $ 2billion, through its public listing on domestic bourses next year.

Through the domestic listing, the company is targeting a valuation of almost $18 billion. Temasek Holdings and Warburg Pincus invested $500 million in ANI technologies Ltd. Aggarwal also participated in the round.

According to research Tracxn, Aggarwal currently owns a 7.9% stake in the 11 year old company.