Ola Cabs' CEO, Hemant Bakshi, has resigned just three months after his appointment, with founder Bhavish Aggarwal taking over again. The company plans to reduce its workforce by 10%, affecting around 200 employees.
Bakshi, who joined from Unilever, is among several external hires made by Aggarwal. Ola aims to improve profitability, considering potential IPO filings in the next three months and exiting international markets. Ola Electric, its sister firm, has already filed for an IPO.