Ola Cab's CFO Kartik Gupta quits

Kartik Gupta, who has assumed the position of a chief financial officer of ANI Technologies, parent company of Ola Cabs in November 2023, has stepped down from his position, stated a Moneycontrol report. As the CFO, he was responsible for financial strategy, top/bottom-line growth, cost optimization and vendor negotiations, tax and treasury management and investor relations.

This development comes post two weeks when Hemant Bakshi, chief executive officer, OLA Cabs, too had stepped down.

As reported by Moneycontrol, currently, a restructuring is ongoing which is likely to affect 10 percent of the staff. Aimed at productivity enhancement in an AI-led era, the restructuring will allow Ola to strengthen cost structures, focus on growth and increase its bottom line.

Gupta began his career at Procter & Gamble as a financial manager, and held various roles in different capacities.

As the vice president and regional CFO, Asia Pacific, Middle East, Africa, Grooming (Gillette,Venus, Braun), Gupta was responsible for overseeing top-line, bottom-line, cash results, long-term strategy, supply chain, and capacity decisions for $1B business spanning 105+ countries across Africa, Middle East, India, and Asia-Pacific with complex go-to-market models and supply chains.

He managed a large India business as a focus market along with the listed legal entity - Gillette India Limited.

Read More: Hemant Bakshi, the Unilever exec who joined Ola Cabs as CEO quits after four months