This paper describes the design of an interleaved sliding mode control for a multiphase synchronous buck converter, which inherits the properties of the sliding mode control, operates with fixed switching frequency at steady-state and ensures current equalization among the phases. Moreover, a power management algorithm is added in order to decide the number of active phases as function of the power load demand, thus optimizing the converter efficiency. The systems uses a Master-Slave structure where each phase can actuate as the Master one in such a way that the overall system reliability is improved. Experimental results in a 1.5 kW 8-phase synchronous buck converter show that interleaving operation, robust output voltage regulation, phase current equalization, switching frequency regulation and power management are achieved.