Ola Electric Appoints Deepak Rastogi as CFO
Ola Electric, a prominent Indian manufacturer of electric two-wheelers, disclosed in a formal filing that their board has granted authorization for Deepak Rastogi to assume the position of Chief Financial Officer within the company.
Additionally, he will fulfill the role of a Key Managerial Personnel and join the Senior Management Personnel, commencing his duties on January 20, 2026. Deepak has assumed the position previously held by Harish Abichandani, whose departure was officially acknowledged by the board and took effect on January 19th.
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Harish resigned from his position due to personal circumstances. Before starting at Ola Electric, Deepak held the position of Group CFO at Puravankara Limited. He initiated his professional journey at Raymond Synthetics as an Assistant Manager in the Accounts department, and later transitioned to Castrol as a Senior Finance Executive. He later obtained a position at DuPont as the Finance Manager and then transitioned to Alcatel-Lucent, assuming the role of Head of Finance.
Deepak was subsequently designated as the Chief Financial Officer (CFO) for the India division within The Timken Company before ascending to the position of CFO for the Asia region. In this capacity, he was responsible for supervising various financial functions such as accounting, financial planning, fundraising, taxation, risk management, compliance (including Sarbanes-Oxley Act), and merger and acquisition (M&A) activities.
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Additionally, he played a pivotal role in driving sustainable growth, enhancing earnings before interest and taxes (EBIT), implementing strategic initiatives, and maximizing shareholder value. Following this, he was designated as the President and Group CFO at Tata AutoComp Systems. He then went on to assume the roles of President and Group CFO at Deepak Fertilisers and Petrochemicals.
In the dynamic realm of India's electric vehicle market, Ola Electric has witnessed substantial shifts in its leadership team as it embarks on a bold retail expansion strategy.
Anshul Khandelwal, the Chief Marketing Officer of the company, has recently tendered his resignation, making it the second notable departure after Chief Technology Officer Suvonil Chatterjee's exit, according to reports. These departures coincide with a significant restructuring within the electric vehicle manufacturer's organization.
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Khandelwal, who became a part of Ola's network in 2019 via Foodpanda, had progressed within the organization by moving from his position as Head of Marketing at Ola Foods to his current role as the Chief Marketing Officer of the electric vehicle division. The acquisition of Foodpanda by Ola took place in 2020. Even with the departure of key executives, Ola Electric remains committed to pursuing ambitious expansion strategies.
Recently, the company unveiled plans to significantly expand its retail presence from 800 to 4,000 stores nationwide. This expansion is designed to not only increase accessibility to customers but also to improve service standards by integrating retail and service functions at these new outlets. The growth goes beyond the major cities and secondary cities of India, reaching into smaller towns and tehsils, where more than 3,200 new combination store-service centers are already in operation. This expansion into smaller markets demonstrates Ola Electric's aspiration to secure a larger portion of India's expanding electric vehicle market, all while managing transitions within the executive team.