Maruti Suzuki India board reappoints Hisashi Takeuchi as MD & CEO; shares up 1.6%

Maruti Suzuki India Ltd (MSIL) on Wednesday, January 29, ahead of its Q3 results declaration, announced that its board of directors has approved the reappointment of Hisashi Takeuchi as Managing Director and Chief Executive Officer for a further period of three years with effect from April 1, 2025.

The board also approved a scheme for the amalgamation of Suzuki Motor Gujarat Private Limited, a wholly owned subsidiary, into and with Maruti Suzuki India Ltd, the company said in a regulatory filing.

Shares of Maruti Suzuki hit an intra-day high of ₹12,317, up 1.6% on the NSE.

Re-appointment

Takeuchi was first appointed as Managing Director and Chief Executive Officer with effect from April 1, 2022, consequent to the completion of the term of his predecessor Kenichi Ayukawa on March 31, 2022.

Takeuchi has been on the Board of Maruti Suzuki since July 2019 and was Joint Managing Director (Commercial) from April 2021 till his elevation.

"He joined Suzuki Motor Corporation (SMC) in 1986 and has vast experience in the international operations at SMC as well as in overseas markets," the company added.

Amalgamation

The amalgamation of Suzuki Motor Gujarat Private Limited with Maruti Suzuki was initially intimated to Maruti Suzuki's board on October 29, 2024. The board had even granted an "in-principle approval" for the same.

"Further to the above, the Board, in its meeting held today, i.e., 29th January, 2025, upon receipt of a recommendation from the audit committee, has considered and approved the scheme of amalgamation of SMG into and with the Company and their respective shareholders and creditors, under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013," the company informed stock exchanges.

Shares of Maruti Suzuki were trading at ₹12,300 apiece, up 1.45% at around 1:16 pm on the NSE.