SML Isuzu Limited has informed the Exchange regarding Cessation of Mr. Sandeep Chandna as Senior Management Personnel of the company w.e.f. August 02, 2025.
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SML Isuzu's board, at its August 2, 2025 meeting, approved a wide-ranging management overhaul. Mr. Vinod Kumar Sahay was appointed Executive Chairman from August 3, 2025, replacing Mr. Chandra Shekhar Verma (who continues as Non-Executive Independent Director). CFO Mr. Rakesh Bhalla's term has been cut short to September 30, 2025 (from May 31, 2026), after which he will move to an advisory role; Mr. Pushkar Patwardhan joins as CFO-Designate and will take over as full CFO from October 1, 2025. Mr. Ritesh Agrawal has been appointed as the new Chief Operating Officer. Two Senior Management Personnel — Mr. Sandeep Chandna (CGM-Production) and Mr. Vikas Sharma (CGM-R&D) — have ceased to be SMPs following an organisational restructuring, though they continue as employees. Statutory auditor Walker Chandiok & Co LLP resigned on August 1, 2025 citing independence concerns, and B S R & Co. LLP has been appointed as the new statutory auditor for five years.
This is a sweeping leadership refresh that follows Mahindra & Mahindra's recent acquisition of a controlling stake in SML Isuzu. The auditor change is driven by independence rules rather than any governance concern at the company, and replacing Walker Chandiok with a Big Four firm like B S R is broadly seen as a neutral-to-positive governance signal. The transition plan is orderly, and shareholders should view the new Chairman, CFO, and COO appointments as a reset of the management team aligned with the new parent.