New Delhi: Farm and construction equipment maker Escorts today appointed Nikhil Nanda as the chairman and managing director (MD) of the company to succeed his father Rajan Nanda who passed away earlier this week after a brief illness.
The company’s board unanimously appointed Nikhil as the chairman and MD to succeed his late father, Escorts said in a statement.
“I am aware that an enormous responsibility, with a great legacy, has been entrusted on me...I am confident that with board’s guidance and our engineering strength we will continue to live up to the expectations across stakeholders," Nikhil said.
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, he added.
Nikhil, who is an alumnus of Wharton Business School, Philadelphia, has been a key member of the company’s board since 1997.
Rajan, who died at the age of 76, had joined Escorts in 1965 and took over the reins of the company when his father and founder chairman H P Nanda stepped down in 1994 after a 50-year long innings.