Adani Group founder and chairman, Gautam Adani, 62, plans to step down at the age of 70 and shift the control to his sons and their cousins in the early 2030s. This is the first time ever that Adani has spoken about his succession plans.
This is the first time ever that Adani Group chairman Gautam Adani has spoken about his succession plans
Adani Group founder and chairman, Gautam Adani, 62, plans to step down at the age of 70 and shift the control to his sons and their cousins in the early 2030s. This is the first time ever that Adani has spoken about his succession plans.
During an interview with Bloomberg News, Adani said he asked his two sons Karan and Jeet, and their cousins Pranav and Sagar, the surprise question over a family lunch if they prefer to divide the Adani Group’s extensive business and go separate, or would they rather stay united, giving them three months to make a decision.
A confidential agreement will dictate the transition of stakes in the group’s companies to the heirs. Adani’s sons and nephews chose to run the group as a united family even after the patriarch steps down, Bloomberg reported quoting the scions. The four heirs will be the equal beneficiaries of the family trust.
“Succession is very, very important for the business and sustainability. I left the choice to the second generation as the transition must be organic, gradual, and very systematic,” Adani said, reported Bloomberg News.
According to the Adani Group website, the billionaire tycoon’s elder son Karan Adani is the managing director of Adani Ports, while his younger son Jeet Adani is the director of Adani Airports.
Pranav Adani is the director of Adani Enterprises and Sagar Adani is the executive director of Adani Green Energy, as per the website.
Adani Groups holds a total market capitalisation of $213 billion, across 10 listed companies, spanning various sectors including business, ports, shipping, cement, and solar energy, among others.