JTEKT India Announces Resignation of Chairman & Managing Director

In a formal notification to the stock exchanges, JTEKT India Limited has informed of the resignation of Mr. Hitoshi Mogi (DIN: 08741355) from his position as Chairman & Managing Director as well as from the Directorship of the company. This resignation will be effective from January 1, 2025.

Reason for Resignation

The company has stated that Mr. Mogi has confirmed there are no material reasons behind his resignation other than those mentioned in his letter. This means that the resignation is not related to any internal issues or disputes within the company, keeping the transition smooth.

SEBI Filing and Compliance

As per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, JTEKT India has disclosed the necessary details regarding the resignation of Mr. Mogi to the stock exchanges. The filing complies with the guidelines set by SEBI for maintaining transparency and up-to-date information for investors.

The company has also confirmed that no further changes in leadership are mentioned in the resignation letter, and there will be no immediate replacement announced at this time.

Annexure - I: Key Details of the Resignation

1. Reason for Change:
   • Resignation of Mr. Hitoshi Mogi from the positions of Chairman & Managing Director and Directorship of JTEKT India, effective from January 1, 2025.
2. Date of Cessation:
   • January 1, 2025.
3. Brief Profile:
   • Not applicable in this case, as there is no new appointment or change in role mentioned.
4. Relationships between Directors:
   • No disclosure required as this is a resignation rather than an appointment.

Conclusion

JTEKT India’s formal announcement regarding Hitoshi Mogi’s resignation marks a significant change in the company’s leadership. As per the company’s filing with the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), this shift will take place at the start of 2025. The company has clarified that there are no material reasons behind the resignation, which is in line with Regulation 30 of SEBI’s guidelines. Investors and stakeholders are encouraged to stay updated as further information or leadership appointments may be announced closer to Mr. Mogi’s departure.

For additional updates, investors can refer to the official website of JTEKT India or stay tuned for further regulatory filings.