SML Isuzu Limited has informed the Exchange regarding Resignation of Mr. Tomoyuki Yamaguchi as Non- Executive Director of the company w.e.f. August 01, 2025.
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Mahindra & Mahindra (M&M) completed the purchase of 85,33,053 equity shares (58.96%) of SML Isuzu from Sumitomo Corporation (43.96%) and Isuzu Motors (15%), making M&M the new promoter while Sumitomo ceased to be one. The company will be renamed from 'SML Isuzu Limited' to 'SML Mahindra Limited', subject to MCA approval. Six new directors were appointed, including Dr. Venkataraman Srinivas as the new Executive Director and CEO, Vinod Kumar Sahay as Executive Director, and four others including three independent directors. Seven directors resigned, including MD & CEO Yasushi Nishikawa, four nominee directors of Sumitomo and Isuzu, and two independent directors (Atima Khanna and Sanjeev Mehan). All resignations were attributed solely to the change in control.
This is a landmark change-of-control event — shareholders should expect new strategic direction under Mahindra leadership, a possible rebrand to SML Mahindra, and potential synergies with M&M's commercial vehicle business. The complete board overhaul (new CEO, new executives, loss of Japanese promoter nominees) signals a fundamental shift in company identity and governance, which could reshape the stock's investment thesis going forward.