Gautam Adani, the founder and chairman of the Adani Group, announced that he would step down as the conglomerate's chairman when he reaches 70 years of age, handing over the company's reigns to the next generation by early 2030s.
The 62-year old billionaire tycoon said, “Succession is very, very important for business sustainability. I left the choice to the second generation as the transition must be organic, gradual and very systematic,” reported Bloomberg News.
Reportedly, Adani's sons Karan and Jeet and nephews Pranav and Sagar will be the heirs to the $213 billion business empire via family trust and will be equal beneficiaries.
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Adani's son Karan and Nephew Pranav are the frontrunners for the Chairman of the corporation.
With the story of the succession set to make the headlines in the business world, let us get to know more about the nephews who will get a share of the pie in Adani’s stakes.
Pranav Adani: Know all about Adani Enterprises chairman
Pranav Adani, the son of Vinod Adani, is the managing director of Adani Enterprises, the in-house incubator of the Adani Group. Vinod Adani is the elder brother of Gautam Adani.
A chief custodian of brand Adani, Pranav leads a diverse portfolio of the conglomerate including city gas distribution, agro, real estate and natural resources.
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Pranav Adani pursued a Bachelor of Science (BSc) in Business Administration from Boston University, Massachusetts. Later, he did a Management Program at Harvard Business School.
He began his entrepreneurial journey with Adani Wilmer Ltd in 1999 spearheading the company's IPO in 2022. He led the group's entry into the agricultural sector with initiatives like Adani Agri Logistics and Adani Agri Fresh. The company’s flagship brand Fortune commands over 20 per cent market share in India’s edible oil segment.
Pranav Adani was instrumental in making Adani Gas Limited, India’s largest private sector listed city gas distribution company. He was a member of the National Council on Agriculture and FMCG of the Confederation of Indian Industry (CII).
His wife, Namrata Adani, is the non-executive director of Adani Enterprises. She runs an NGO called Abhisar which works towards women’s education and empowerment.
Sagar Adani: Know All About Gautam Adani's Younger Nephew
Sagar Adani, the son of Rajesh Adani, is the executive director of Adani’s Renewable Energy Limited. Sagar has been associated with the enterprise's green energy vertical since its inception in 2015. Rajesh Adani is the younger brother of Gautam Adani.
He earned a degree in economics from Brown University. Sagar was very instrumental in building the Adani Group’s solar and wind portfolios.
He is involved in key decision making with respect to the company’s development, strategies and finances. Under his leadership, the company has set an ambitious target of achieving renewable energy generation capacity of 50 GW by 2050.
