The Board of Directors of Escorts Limited, India’s leading engineering conglomerate manufacturing agri-machinery, construction and railway equipment, today appointed Mr Nikhil Nanda as the Chairman and Managing Director of the company.
The Board of Directors unanimously appointed Nikhil Nanda to succeed Mr Rajan Nanda, former Chairman and Managing Director of Escorts Limited. Mr Rajan Nanda, passed away on Sunday, August 5, after a brief illness.
Chairman and Managing Director of Escorts Ltd., Mr Nikhil Nanda, said, “I am aware that an enormous responsibility, with a great legacy, has been entrusted on me. Our founder Chairman Mr HP Nanda created Escorts to elevate human lives by eradicating drudgery through technology driven agriculture and infrastructure. Along with our late Chairman, Mr 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 & solutions which will transform agriculture by empowering farmers with mechanized, 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 & 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 & disruptive innovations. He was appointed as Managing Director of Escorts in 2013 and he has been a key member of the Board since 1997. The company under his leadership has not only built an innovative product portfolio strengthening both domestic and International business but also has seen a multifold rise in the stock performance Increasing its market cap by more than 10 times thus creating tremendous value for shareholders and investors. He is a member of Northern Regional Council of Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce & Industry (FICCI), the Indo American Chambers of Commerce (IACC), Science & Technology Society of Japan and a high-level strategic group constituted by All India Management Association (AIMA) & Young India Committee of CII. Mr. 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.