Tractor maker Escorts Limited announced the re-appointment of Nikhil Nanda as Managing Director of the company, with effect from September 19, 2022.
According to the company’s exchange filing, “Pursuant to Regulation 30 and 33 of the SEBI {listing Obligations and Disclosure Requirements) Regulations, 2015, please note that the Board in its meeting held today i.e. May 13, 2022 has approved the re-appointment of Mr. Nikhil Nanda {DIN-00043432) as Managing Director, not liable to retire by rotation, and for payment of remuneration thereof, for a further period of five years effective from September 19, 2022, subject to approval of the shareholders of the Company at the ensuing Annual General Meeting.”
Nikhil Nanda is Managing Director of the Company since 2007 and was re-appointed in 2017 for a period of five years. His current term shall expire on September 19, 2022, the statement said.
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 monitoring the Company’s performance and steering the operations to greater heights. His overall contribution spanning more than 15 years has been immeasurable, particularly in the areas of operations, finance and senior management functions such as strategic planning and investment decisions, the statement said.
Nanda is an alumnus of Wharton Business School, Philadelphia, with majors in Management and Marketing.
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