Tractor maker Escorts Ltd today said it has appointed Nikhil Nanda as Managing Director of the company.
The board appointed Nanda, currently the Joint Managing Director, as MD of the company, Escorts said in a statement.
"The Board of Directors unanimously believed that it was time for Nikhil to shoulder larger responsibilities given the ambitious targets that the company has set," Escorts Chairman Rajan Nanda said.
Nikhil has worked through extremely challenging periods and handled the mandate of the board with maturity and vision to deliver sound results in a rapidly changing economic environment, he added.
"I look towards the Chairman, the Board of Escorts, our shareholders and investors, our partners, the Escorts management team and the strong, motivated workforce to help shape new dreams and start new movements," Nikhil Nanda said.