Karthik Gupta, the CFO of Ola Cabs, resigns after seven months following the CEO

New Delhi Another high-ranking departure has occurred at Ola Cabs, as Karthik Gupta, the Chief Financial Officer (CFO) of ANI Technologies, the company’s parent company, has left his position after only seven months in office.

Gupta leaves the firm two weeks after Hemant Bakshi, the CEO, resigned.

Gupta’s resignation, according to the firm, is part of an “ongoing restructuring” process.

Karthik Gupta, the CFO of Ola Mobility, has left the firm as part of an ongoing reorganization. An Ola representative told IANS, “This restructuring is aimed at productivity enhancement in an AI-led era that is redefining the cab-hailing industry globally.”

Ola would be able to “strengthen cost structures, focus on growth, and increase its bottom line” as a result of the restructuring process, the spokeswoman said.

Gupta joined Ola Cabs seven months ago, and according to his LinkedIn page, he was in charge of investor relations, treasury, tax, growth, financial strategy, and regulatory compliance. Before joining Ola, he worked for Procter & Gamble for more than 17 years as the vice president and regional CFO for Asia Pacific, the Middle East, and Africa.

The ride-hailing company announced layoffs last month.

In a letter to the workforce, Ola founder Bhavish Aggarwal discussed a reorganization initiative intended to increase profitability and get the company ready for expansion. At least 10% of the company’s employees would apparently be impacted by the reorganization process.

Ankush Aggarwal, the brother of Ola founder, has been named by the firm as CEO of Ola Financial Services.