In yet another high-profile recruitment by a domestic start-up, the outgoing chief financial officer (CFO) of Infosys, Rajiv Bansal, has reportedly been hired by online taxi aggregator Ola as its new finance head.
Bansal will join Ola, India's biggest online cab aggregator, from 1 January, sources familiar with the matter told The Economic Times.
"The offer letter has been accepted," said a source. "This move is in line with our initiative of getting top talent from across industries to further strengthen the core Ola team," the person added.
The Bengaluru-based firm has been looking out for a finance chief for the past one year, the report said.
Ola claims to have 80% of the market share after acquiring TaxiForSure in this March. The company expects to clock 1 million trips a day from the current 750,000 trips. It also plans to expand its services to about 200 smaller towns and cities in the country.
In a surprise move, Bansal announced his resignation as CFO of Infosys last week and will be replaced by MD Ranganath.
Following the announcement, Bansal, who was queried by reporters about his future plans, had said "Our paths will cross again. Whether it will be at a private equity fund, a large business house or a startup, I can't say at the moment. But I am looking forward to working in a value creation space."
After joining India's second largest IT firm Infosys in 1999, Bansal took charge as the CFO of the company in 2012. He was among the top paid officials at Infosys, after UB Pravin Rao, the company's chief operating officer and Vishal Sikka, the CEO of Infosys.
"He's a brilliant CFO and we will miss him even as we respect his decision and wish him continued success in his future endeavors," Sikka had said about Bansal's resignation.