Ola Electric has lost yet another top tier executive as Varun Dubey, the Chief Marketing Officer has quit the company. Reports suggest that Dubey quit the tech-mobility start-up citing personal reasons, having joined the firm in 2019. However, Dubey also becomes the third high profile exit at Ola in the last couple of weeks after Chief Technology Officer Dinesh Radhakrishnan and Arun Sirdeshmukh, CEO of Ola Cars, called it quits earlier this month.
While high profile exits are a fairly regular affair in firms, the ones at Ola do come at a when the company has been battling with production and delivery delays, quality issues, software glitches and the recent spate of fires with the S1 Pro electric scooter, which prompted a mass recall of the vehicles. With respect to Dubey, the CMO was a prominent face at Ola Electric and often interacted with the media too. He was reportedly closely associated with the CEO and founder, Bhavish Aggarwal.
Ola Electric's S1 Pro electric scooter has been in the centre of several glitches including software issues, build quality, and the recent fire incidents
The last few months have seen a spate of exits at the Ola Group including its Chief Financial Officer Swayam Saurabh, Chief Operating Officer Gaurav Porwal, HR head Rohit Munjal and General Counsel Sandeep Chowdhury. Reports also suggest Ola group strategy head Amit Anchal's exit but the firm was quick to deny the same.
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Ola was expected to list on the public markets this year but these plans could be delayed with the company now looking towards a new round of funding at a lower valuation, according to reports. The company was last valued at $7.3 billion and has found backers in the form of Edelweiss PE, IIFL, Hero Enterprises, Falcon Edge, Softbank and others.
