Escorts announces strategic organisational changes

27 Aug 2021 CW Team

Escorts, an Indian firm manufacturing agricultural tractors and construction equipment, has announced a leadership transition, comprising the elevation of Bharat Madan as President Finance, Group Chief Financial Officer and Corporate Head.

Presently, Madan is the Group Chief Financial Officer and Corporate Head.

In a regulatory filing, Escorts Ltd said that under the strategic organisational changes, which would stand effective from April 1, 2022, Shenu Agarwal would be promoted as President of Agri Machinery & Construction Equipment Business.

Currently, he works as Escorts Agri Machinery CEO.

Additionally, Ajay Mandahr will be moving to the position of Chief Executive Officer Agri-Business India. Presently, he is the CEO of Escorts Construction Equipment.

Shailendra Agarwal would continue in the Executive Director's role and perform a more strategic role in the business growth.

To guarantee a seamless transition and continuity, the transition process will commence from now, and the new structure and teams will completely be in place from April 1, 2022, the filing said.

The key organisational changes for strategic alignment and with a medium to long term view, with redefined roles and responsibilities, have begun following discussions with the Nomination and Remuneration Committee (NRC) of the company board.

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