SML Isuzu Limited has informed the Exchange regarding Outcome of Board Meeting held on August 02, 2025.
SMLMAH · price
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SML Isuzu announced sweeping leadership changes on August 2, 2025. Mr. Vinod Kumar Sahay has been appointed as Executive Chairman from August 3, 2025, replacing Mr. Chandra Shekhar Verma who continues as Non-Executive Independent Director. The CFO, Mr. Rakesh Bhalla, will step down early on September 30, 2025 (about 8 months ahead of his original May 2026 term end) and move into an Advisor role. Mr. Pushkar Patwardhan will take over as CFO effective October 1, 2025, and Mr. Ritesh Agrawal has been appointed as Chief Operating Officer from August 2, 2025. Two senior officials (CGMs in Production and R&D) lost their senior management designations due to organizational restructuring but remain employees.
The changes reflect a major Mahindra group-led overhaul following M&M's acquisition of a controlling stake. Shareholders should note the early CFO exit and the statutory auditor change. Walker Chandiok & Co LLP resigned mid-term citing independence issues because a related party provides non-audit services to the holding company M&M; B S R & Co. LLP has been appointed as the new auditor, subject to shareholder approval for a 5-year term.