Escorts rejigs top management

Agricultural machinery and construction equipment major Escorts on Monday announced a leadership transition, including elevation of Bharat Madan as President Finance, Group Chief Financial Officer and Corporate Head.Madan is at present the Group Chief Financial Officer and Corporate Head.Under the strategic organisational changes, which will be effective from April 1, 2022, Shenu Agarwal will be promoted as President Agri Machinery Construction Equipment Business, Escorts Ltd said in a regulatory filing.He is currently the CEO of Escorts Agri Machinery.

Agricultural machinery and construction equipment major Escorts on Monday announced a leadership transition, including elevation of Bharat Madan as President Finance, Group Chief Financial Officer and Corporate Head.

Madan is at present the Group Chief Financial Officer and Corporate Head.

Under the strategic organisational changes, which will be effective from April 1, 2022, Shenu Agarwal will be promoted as President Agri Machinery & Construction Equipment Business, Escorts Ltd said in a regulatory filing.

He is currently the CEO of Escorts Agri Machinery. Besides, Ajay Mandahr will be moving to the role of Chief Executive Officer Agri-Business India. He is at present CEO of Escorts Construction Equipment.

The company said Shailendra Agarwal will continue in the Executive Director's role and will play a more strategic role in the growth of the business. ''To ensure a seamless transition and continuity, the transition process will begin from now, and the new structure and teams will be fully in place by 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 been undertaken following discussions with the Nomination and Remuneration Committee (NRC) of the board of the company, Escorts said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)