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Ola’s parent company ANI Technologies is likely to name Hemant Bakshi, Executive Vice President of Marketplace and Chairman of Unilever, Indonesia, as its next chief executive officer, a source familiar with the matter told YourStory.

The Economic Times was the first to report the development. Citing four sources, the publication said that Ola’s founder, Bhavish Aggarwal, could announce the appointment of the veteran FMCG executive as CEO of Ola Cabs as early as next week—a move that it called “unprecedented”.

The new CEO will be appointed for ANI Technologies, YourStory’s independent source said.

Ola did not respond to YourStory’s request for a comment.

Bakshi’s possible appointment comes against the backdrop of the launch of Aggarwal’s new AI and silicon chip company, which, Aggarwal told YourStory in an earlier conversation, would work closely with NVIDIA.

Krutrim Si Designs Pvt Ltd, the new AI company, was incorporated in April, according to filings with the Ministry of Corporate Affairs.

Since the launch of Ola Electric, Aggarwal has also been busy with cell production at the new facility slated to be launched soon.

“I think this signals that Aggarwal is gearing up with full force for the Ola Electric IPO and its roadshow. He wants to focus on the IPO and the new businesses. He knows his investors want to hear from him now; so this frees up his schedule to focus on other stuff,” said an analyst from Anand Rathi.