Ola Electric Shares Tumble Following CFO Resignation and Leadership Shake-up

Ola Electric Mobility saw its share price plunge by over 8% to an intraday low of ₹32.80 on Tuesday, following the sudden resignation of Chief Financial Officer Harish Abichandani. In a regulatory filing, the company stated that Abichandani stepped down effective January 19, 2026, citing personal reasons. This leadership exit added pressure to a stock that has already faced a difficult period, losing nearly 16% of its value in just one week and trading significantly below its yearly high of ₹80.80.

In response to the vacancy, the board has swiftly appointed Deepak Rastogi as the new CFO and Key Managerial Personnel. Rastogi brings over 30 years of extensive experience across the automotive and manufacturing sectors, having previously held senior roles at major firms like Tata AutoComp and DuPont. While the market reacted sharply to the executive turnover, the company continues to advance its technical roadmap, recently securing BIS certification for its “Ola Shakti” battery energy storage system, the first of its kind manufactured in India using indigenous 4680 Bharat cells.