Olectra’s Leadership Reboot: K.V. Pradeep Steps Down, P.V. Krishna Reddy Takes the Wheel

In a major boardroom shake-up, Olectra Greentech Ltd, India’s pioneering electric mobility firm, has announced the resignation of Chairman and Managing Director K.V. Pradeep, citing personal reasons. The company has swiftly moved to stabilize leadership by appointing P.V. Krishna Reddy—a veteran industrialist and Managing Director of MEIL Group—as Non-Executive Chairman, effective July 4, 2025.

 

Key Highlights:

 

- Pradeep’s Exit:

 

- Resigned from both CMD and board roles on June 9, 2025

 

- Departure comes amid scrutiny over delayed e-bus deliveries and a potential ₹10,000 crore order cancellation in Maharashtra

 

- Company maintains that no official termination notice has been received

 

- New Chairman Appointed:

 

- P.V. Krishna Reddy, co-promoter of MEIL and a key architect of Olectra’s EV strategy, joins as Non-Executive Director and Chairman

 

- Expected to bring strategic oversight as Olectra scales up production and navigates regulatory headwinds

 

- Business Context:

 

- Olectra is doubling its EV production capacity to 10,000 units annually

 

- Despite recent turbulence, FY25 revenue surged 56% YoY to ₹1,801 crore, with net profit up 80.8%

 

- Market Reaction:

 

- Shares remained stable post-announcement, reflecting investor confidence in MEIL’s continued stewardship

 

This leadership transition signals a recalibration at Olectra as it gears up for its next growth phase—balancing operational execution with boardroom stability.

 

Source: Fortune India, Business Standard, Moneycontrol