Mobility major Ola’s Chief Financial Officer Swayam Saurabh and Chief Operating Officer Gaurav Porwal have quit the company, as the firm undergoes internal restructuring.

According to BusinessLine sources, both exits happened during the last week. Porwal is said to be leaving the company to pursue other interests while Saurabh is moving on to pursue other opportunities in middle of December.

Porwal used to head Ola delivery before becoming the COO of Ola in November 2020 and Saurabh was the CFO of Ola’s entire consumer internet businesses – mobility, food and financial services.

An internal mail sent out by Ola CEO Bhavish Aggarwal reportedly said that going forward, the executive leading Ola’s delivery business, Vinay, will take on the additional responsibility for driver and supply ecosystem of Ola’s mobility platform and marketing lead Anshul will be taking on additional responsibility.

Further, Ola Group’s CFO Arun Kumar GR will continue to run the finance function of the group and all finance leaders will report to him.

New Mobility

Earlier this month, Ola has launched its vehicle commerce platform Ola Cars, to enable consumers to purchase both new and pre-owned vehicles through the Ola App. Ola Cars is part of Ola’s larger vision of New Mobility that encompasses three key pillars – New Mobility Services expanding from 150 to 500 cities and increasing the reach from 100 million people to 500 million people, New Energy Vehicles with EVs across existing and new vehicle form factors to bring cleaner, efficient and more affordable transportation to people, and third, New Auto Retail that will improve the entire lifecycle of vehicle ownership for a customer.

This month, Ola has also acquired a Pune-based geospatial start-up GeoSpoc to develop technologies that would make mobility universally accessible, sustainable, personalised, and convenient, across shared and personal vehicles.

In July, Temasek, Warburg Pincus and Co-founder Bhavish Aggarwal had invested $500 million in Ola. The company has a clutch of marquee investors on its board including SoftBank, Steadview Capital, Tiger Global Management, Matrix Partners, among others. Ola is looking to go public by next year and is estimated to raise around $1-2 billion from the IPO.

Ola Cabs has crossed pre-covid GMV levels in September and the recovery from the second covid wave is said to be three times faster than the first wave. Further, 10 million people are reported to have used Ola for the first time ever in FY2021.

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