The Board of Directors of Maruti Suzuki has approved the re-appointment of Hisashi Takeuchi as the Managing Director and Chief Executive Officer (CEO) for a further period of three years in the board meeting held today on January 29, 2025.
As per the company, Takeuchi’s new term will commence on April 1, 2025 and will run until March 31, 2028.
Additionally, the Board also recommended the re-appointment of Maheswar Sahu as an Independent Director for a further five-year term, from May 14, 2025 to May 13, 2030. This recommendation is subject to approval by the company’s Members.
To seek the approval of the Members for these re-appointments, the company has announced that a postal ballot will be conducted, with the facility to vote electronically. The Members will have the opportunity to cast their votes through remote e-voting. The cut-off date for determining eligibility for voting is set for Friday, February 14, 2025.
Hisashi Takeuchi joined Suzuki Motor Corporation (SMC) in 1986. He was first appointed as the Managing Director and Chief Executive Officer of the company on April 1, 2022, following the completion of the term of his predecessor, Kenichi Ayukawa, on March 31, 2022. Takeuchi has been serving on the Board of Maruti Suzuki since July 2019 and was promoted to Joint Managing Director (Commercial) in April 2021 before his elevation to the role of MD & CEO.
These appointments come at a time when the company is focused on consolidating its leadership and driving future growth under the continued guidance of Takeuchi and Sahu. Both Takeuchi and Sahu are in compliance with the regulatory guidelines. Takeuchi is not related to any of the company’s directors, and neither of the two re-appointees are debarred from holding office by any order from SEBI or other authorities, as per the guidelines issued in June 2018.