SML Isuzu Appoints Vinod K. Sahay As Executive Chairman, Pushkar Patwardhan As CFO, & Ritesh Agrawal As COO

Vinod Kumar Sahay has been appointed as the Executive Chairman of SML Isuzu Limited, with effect from August 3, 2025. He succeeds Chandra Shekhar Verma, who retired from the same position with effect from August 2, 2025, and will continue to be on the Board as Non-Executive Independent Director.

Further, Pushkar Patwardhan has been appointed as Chief Financial Officer (CFO) “designate” and Senior Management Personnel (SMP) of the company with effect from August 2, 2025, and will take charge as CFO and also KMP & SMP of the company with effect from October 1, 2025.

Meanwhile, Rakesh Bhalla, currently the CFO and KMP & SMP of the company, will retire with effect from September 30, 2025. Thereafter, Bhalla will assume the role of Advisor to the Executive Director & CEO, effective October 1, 2025.

Additionally, Ritesh Agrawal has been appointed as the Chief Operating Officer (COO) and SMP of the company, with effect from August 2, 2025.

Mahindra & Mahindra Ltd. (M&M) has officially notified the completion of its acquisition of a controlling 58.96% stake in SML Isuzu Ltd. (SML) on August 1, 2025. The move solidifies Mahindra’s categorisation as the new promoter of SML.

Sahay leads the Mahindra Group’s businesses in Aerospace & Defence, Trucks, Buses, and Construction Equipment, with five sector CEOs reporting to him. He is driving initiatives to make India self-reliant in defence, enhance its role in the global aerospace supply chain, and lower logistics costs through innovative commercial vehicle solutions. A member of the Group Executive Board and Chairman of all Mahindra companies in Defence and Aerospace, he also chairs FICCI’s Committee on Defence and Homeland Security. Since joining Mahindra in 2015, he has held leadership roles across two-wheelers, trucks, buses, and construction equipment, after a 17-year tenure at Tata Motors. Sahay holds degrees in physics and international business & marketing, and is a Fulbright CII Fellowship Scholar from Carnegie Mellon University.

Patwardhan is a Chartered Accountant with 21 years of experience in controllership, financial planning, strategic business partnering, business and financial analytics, M&A, and integration. He has played a key role in driving growth and ensuring continuity for the MTB and CE businesses at Mahindra Group. Before rejoining Mahindra, he spent a decade with the Volkswagen Group in India and the Czech Republic. Earlier in his career, he worked with the Automotive Division of Mahindra and Raymond Ltd., contributing to financial management, strategic initiatives, and operational efficiency across diverse business environments.

Agrawal holds a B.Tech. from IIT Kharagpur and an MBA from FMS, Delhi, with a career spanning over 30 years, including two decades with the Mahindra Group. He has extensive experience in strategic sourcing, vendor development, project management, and cost optimisation. At Mahindra, he has led key initiatives in cost leadership, adoption of new technologies, and capacity planning to support volume growth. Before joining Mahindra, he worked with Maruti Suzuki and Larsen & Toubro, gaining expertise across manufacturing, supply chain, and operational excellence.

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