The board of directors of Escorts Limited, the engineering conglomerate manufacturing agri-machinery, construction and railway equipment, has appointed Nikhil Nanda as the Chairman and Managing Director of the company.
He will succeed Rajan Nanda, former Chairman and Managing Director of Escorts Limited. Rajan Nanda passed away on August 5 after a brief illness.
Nikhil Nanda, said, “I am aware that an enormous responsibility, with a great legacy, has been entrusted on me. Our founder Chairman HP Nanda created Escorts to elevate human lives by eradicating drudgery through technology driven agriculture and infrastructure. Along with our late Chairman, Rajan Nanda, I got an opportunity to nurture the legacy and build a strong engineering set-up to cater to community development.It is a privilege to lead this company, which has been built by innovation, highly respected board and a great team. I am confident that with board’s guidance and our engineering strength we will continue to live up to the expectations across stakeholders. Escorts will create products and solutions, which will transform agriculture by empowering farmers with mechanised, precision-based autonomous technology and partner nation to build smart and safe infrastructure.Escorts is committed to take the vision forward and build a global scale and world-class company.I look forward to the board, our shareholders and investors, our partners and the entire Escorts team to help shape new dreams and start new technology movements for community development and a prosper nation.”
Nikhil Nanda is a third-generation entrepreneur and the driving force behind the group’s diversified business portfolio. He has played a vital role in propelling the company to record performances. He was appointed as Managing Director of Escorts in 2013 and he has been a key member of the board since 1997.
He is a member of Northern Regional Council of Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI), the Indo American Chambers of Commerce (IACC), Science and Technology Society of Japan and a high-level strategic group constituted by All India Management Association (AIMA) & Young India Committee of CII. Nanda is an alumnus of Wharton Business School, Philadelphia, with majors in Management and Marketing.He was selected as one of five ‘Indians who are global leaders of tomorrow’ by the World Economic Forum.