Maruti Suzuki India Ltd said Kazunari Yamaguchi stepped down as Whole-time Director on September 30, 2026. He will continue as a Non-executive Director. The board appointed Sarada Prasana Nayak as Head of Production and Production Engineering from October 1, 2026. Meanwhile, company shares rose 1.18 per cent on Wednesday morning.
Maruti Suzuki India Ltd disclosed to stock exchanges on Wednesday that Kazunari Yamaguchi has stepped down as Whole-time Director (Production), effective close of business hours on September 30, 2026, following the withdrawal of his nomination by Suzuki Motor Corporation, Japan.
Yamaguchi also resigned from the company's Risk Management Committee with effect from the same date. He will, however, continue on the board as a Non-executive Director.
In a separate development disclosed in the same filing, the Maruti Suzuki board appointed Sarada Prasana Nayak as Senior Management Personnel (SMP), designated as Head of Production and Production Engineering, with effect from October 1, 2026.
Nayak brings over 30 years of experience in large-scale capital expenditure programmes, greenfield and brownfield project commissioning, localisation and supplier development, and carbon-neutral manufacturing initiatives. He holds a degree in Mechanical Engineering from Utkal University and Ravenshaw College, Odisha. His role will cover business planning and strategy for the company's complete manufacturing domain, including capacity expansion and multi-location plant operations.
Maruti Suzuki shares rose 1.18 per cent to ₹12,017 on the NSE on Wednesday morning, though the stock remains under pressure over a longer horizon, down nearly 25 per cent over the past year and approximately 28 per cent year-to-date, significantly underperforming the Nifty 50, which is down around 13 per cent over the same period. The stock hit a 52-week low of ₹11,831 on September 29, 2026, just a day before this announcement. Total market capitalisation stands at approximately ₹3.78 lakh crore.