SML Isuzu Limited has informed the Exchange regarding Resignation of Mr. Yasushi Nishikawa as Managing Director & CEO of the company w.e.f. August 01, 2025.
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Mahindra & Mahindra Limited (M&M) completed the acquisition of 85,33,053 equity shares (58.96%) in SML Isuzu from Sumitomo Corporation (43.96%) and Isuzu Motors (15%) on August 1, 2025, making M&M the sole promoter. Sumitomo has ceased to be the promoter. The company will be renamed 'SML Mahindra Limited', subject to MCA/RoC approval. Seven directors resigned with effect from the close of the board meeting — including MD & CEO Mr. Yasushi Nishikawa, four Sumitomo/Isuzu nominee directors, and two independent directors (Ms. Atima Khanna and Mr. Sanjeev Mehan). Six new directors were appointed, including Dr. Venkataraman Srinivas as the new Executive Director & CEO, Mr. Vinod Kumar Sahay as Executive Director, Ms. Mahima Chugh as Non-Executive Non-Independent Director, and three new independent directors (Mr. Arun Kumar Malhotra, Ms. Smita Mankad, and Mr. Ravi Venkatraman).
This marks a complete change of control from Sumitomo/Isuzu to the Mahindra Group, with full board reconstitution. Shareholders can expect strategic direction and operations to be increasingly aligned with M&M's automotive business, and the brand rebrand to SML Mahindra signals deeper integration. New leadership is drawn from seasoned Mahindra and auto-industry professionals, which is positive for execution, though the transition may bring short-term uncertainty.