Ola Names Hemant Bakshi As CEO

Hemant Bakshi has been appointed as the new CEO of Ola. Bakshi, previously the Vice President (VP) of the marketplace and chairperson of Unilever Indonesia, joined Ola earlier this year.

Bhavish Aggarwal has stepped down as part of the company's effort to streamline operations.

According to reports, the company's new CEO will help streamline operations. 

Bakshi oversaw sales growth in Indonesia during his time at Unilever. He joined Ola and moved back to India about four months ago.

The company posted a revenue of Rs 2,800 crore in the fiscal year 2022-23 while cutting its losses by almost 50 per cent.

Ola's revenue grew by 42 per cent to Rs 2,799 crore in FY23, compared to Rs 1,970 crore in FY22, according to the audited financial results on the company's website. The company recorded a loss of Rs 772 crore in FY23, down from Rs 1,522 crore in FY22.