SML Isuzu Limited has informed the Exchange regarding Cessation of Mr. Rakesh Bhalla as Chief Financial Officer of the company w.e.f. September 30, 2025.
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SML Isuzu's board, at its 2nd August 2025 meeting, approved several senior leadership changes. Mr. Vinod Kumar Sahay was appointed as Executive Chairman from 3rd August 2025, while Mr. Chandra Shekhar Verma stepped down as Non-Executive Chairman but continues as an Independent Director. Mr. Rakesh Bhalla's term as CFO will end early on 30th September 2025 (originally 31st May 2026), after which he will move to an Advisor role; Mr. Pushkar Patwardhan will take over as CFO from 1st October 2025. Mr. Ritesh Agrawal has been appointed as Chief Operating Officer effective 2nd August 2025. Separately, statutory auditor Walker Chandiok & Co LLP resigned on 1st August 2025 citing independence concerns after Mahindra & Mahindra acquired a controlling stake, and B S R & Co. LLP has been appointed in their place for a five-year term (subject to shareholder approval).
This is a sweeping leadership reshuffle largely driven by Mahindra & Mahindra's takeover of the company, which also forced the auditor change. Shareholders should note the continuity is maintained through internal Mahindra Group talent (new CFO, COO, and Chairman), but the mid-term auditor exit is a governance point worth monitoring closely.