New Delhi: Two directors of SML Isuzu, Masaki Morohoshi and Takuro Horikoshi, have tendered their resignations effective from March 31, 2024 to take up their new assignments at Sumitomo Corporation, Japan, the promoter of SML Isuzu.
In his resignation letter, Masaki Morohoshi expressed his inability to continue as a Director of SML Isuzu due to his new responsibilities at Sumitomo Corporation. He conveyed his appreciation for the opportunity to work with SML Isuzu and extended his best wishes for its future endeavors.
Similarly, Takuro Horikoshi cited his new assignment at Sumitomo Corporation as the reason for his resignation. Like Morohoshi, he expressed gratitude for his time at SML Isuzu and wished the Board and the Company prosperity and success in the future.
These resignations were noted and acknowledged during the Board of Directors meeting held on March 15, 2024, in New Delhi. Consequently, the board approved the appointment of Ryusuke Miyake and Takahiro Jitosho as Additional Directors to fill the vacant positions, subject to regulatory approvals and shareholder confirmation.
Furthermore, the board also approved the re-appointment of M.S. Ramta as Executive Director-Works and extended the tenure of Rakesh Bhalla as CFO & KMP of SML Isuzu.
SML Isuzu ensured compliance with Regulation 30 and Para A (7) of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by providing detailed information regarding the resignations and appointments in Annexure III, as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.
