India's leading automaker reinforces leadership stability as board approves three-year extension for CEO Hisashi Takeuchi and recommends five-year term for Independent Director Maheswar Sahu.
29 Jan 2025 | 4691 Views | By Autocar Pro News Desk
Maruti Suzuki India Limited (MSIL), India's leading automobile manufacturer, announced today the reappointment of its key leadership positions in a board meeting held at its corporate headquarters.
The board has approved a three-year extension for Hisashi Takeuchi as Managing Director and Chief Executive Officer. Takeuchi, who has been with ...
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Maruti Suzuki India Limited (MSIL), India's leading automobile manufacturer, announced today the reappointment of its key leadership positions in a board meeting held at its corporate headquarters.
The board has approved a three-year extension for Hisashi Takeuchi as Managing Director and Chief Executive Officer. Takeuchi, who has been with the company since April 2022 in his current role, will continue to lead the organization from April 1, 2025, through March 31, 2028.
In a parallel development, the board has also recommended the reappointment of Maheswar Sahu as Independent Director for a five-year term, extending from May 14, 2025, to May 13, 2030. This appointment awaits shareholder approval through a postal ballot.
Takeuchi brings extensive automotive industry experience to his role, having started his career with Suzuki Motor Corporation (SMC) in 1986. His journey includes significant international exposure, particularly as Managing Director of Magyar Suzuki Corporation in Hungary, and various leadership positions in SMC's Asian operations. Since joining Maruti Suzuki in 2021, he has been instrumental in steering the company's commercial operations before assuming the role of MD and CEO.
Sahu's reappointment adds considerable public sector expertise to the board. With more than two decades of industry experience, including ten years in Public Sector Management and three years with the United Nations Industrial Development Organization, he brings valuable perspective to the company's governance. His extensive background includes key positions in Gujarat's industrial development sector and significant contributions to technology, tourism, and administrative domains.
The company will seek shareholder approval for these appointments through a postal ballot with electronic voting facilities. The board has established February 14, 2025, as the cut-off date for determining voting eligibility.
These reappointments align with SEBI regulations, and both executives have been cleared of any restrictions from holding directorship positions. The company confirmed that neither director has any familial relationships with other board members, ensuring independent decision-making and governance.
The board meeting saw these crucial decisions being made by early afternoon, with the confirmation of reappointment of Takeuchi. The announcements were made to both the National Stock Exchange of India and the BSE Limited as part of the company's regulatory compliance requirements.
This leadership continuity is expected to support Maruti Suzuki's ongoing market strategies and long-term growth objectives in the competitive Indian automotive sector.