Cartrade Tech Limited has informed the Exchange regarding a press release dated April 07, 2026, titled "OLX India Appoints Varun Sanghi as Non-Executive Chairman".
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OLX India, a material wholly owned subsidiary of CarTrade Tech, has appointed Mr. Varun Sanghi as its Non-Executive Chairman effective April 7, 2026. Mr. Sanghi is currently the Chief Strategy Officer of CarTrade Tech and has been with the parent company for over a decade. He played a key role in CarTrade Tech's acquisition of OLX India in 2023 and has since led post-integration initiatives. In his new role, he will provide strategic guidance to OLX India's Board and leadership team, with a focus on product innovation, trust, and customer-centricity. He also continues to lead CarTrade Labs, the company's innovation and technology hub. Mr. Sanghi has been recognised in Forbes India's 30 Under 30 and Business World's 40 Under 40 – Auto Industry Leaders.
This is a subsidiary-level leadership change with no immediate material impact on CarTrade Tech's consolidated financials. It signals continued strategic alignment between the parent and its OLX India subsidiary, with existing group leadership taking on a more formal governance role at the subsidiary level — a positive continuity signal for shareholders.