SML Isuzu Limited has informed the Exchange regarding Cessation of Mr. Vikas Sharma as Senior Management Personnel of the company w.e.f. August 02, 2025.
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SML Isuzu's board met on 2nd August 2025 and approved several leadership changes following Mahindra & Mahindra's acquisition of a controlling stake. Mr. Vinod Kumar Sahay has been appointed as Executive Chairman from 3rd August 2025, replacing Mr. Chandra Shekhar Verma who will continue as a Non-Executive Independent Director. CFO Mr. Rakesh Bhalla's term ends on 30th September 2025, after which he will move to an advisory role; Mr. Pushkar Patwardhan takes over as CFO from 1st October 2025. Mr. Ritesh Agrawal joins as the new Chief Operating Officer. Mr. Vikas Sharma (CGM-R&D) and Mr. Sandeep Chandna cease to be Senior Management Personnel due to an organisational restructure but remain in employment. Statutory auditor Walker Chandiok & Co LLP resigned on 1st August because a related party provides non-audit services to the new holding company (M&M), creating an independence issue. B S R & Co. LLP has been appointed as the new statutory auditor.
These are largely transitional changes linked to the recent M&M takeover rather than signs of trouble. The auditor switch is a compliance formality triggered by the change in control, and the replacement (B S R & Co.) is a well-known firm. Shareholders should expect smoother integration with the Mahindra group and continuity in financial oversight.