SML Isuzu Limited has informed the Exchange regarding Appointment of Mr. Arun Kumar Malhotra as Non- Executive Independent Director of the company w.e.f. August 01, 2025.
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Mahindra & Mahindra (M&M) completed the acquisition of 85,33,053 equity shares (58.96% stake) in SML Isuzu from Sumitomo Corporation (43.96%) and Isuzu Motors (15%) on August 1, 2025, making M&M the new promoter and sole controller. Consequently, the company will change its name to 'SML Mahindra Limited' subject to MCA/RoC approval. The board appointed six new directors including Dr. Venkataraman Srinivas as Executive Director & CEO and Mr. Vinod Kumar Sahay as Executive Director, both from the Mahindra Group, alongside four non-executive directors. Seven directors resigned effective the conclusion 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) — citing the change in control as the sole reason.
This is a transformative event for shareholders: SML Isuzu is now fully under Mahindra Group control, ending the Sumitomo era. The rebrand to SML Mahindra signals strategic alignment with the parent group, and the appointment of senior Mahindra leadership suggests a push to scale operations. Existing minority shareholders should expect integration synergies but also potential shifts in business strategy under the new management.