The transfer of control from one generation to the other in the country’s big business groups has always been a controversial issue. From Reliance to Godrej and KK Modi Group, there have been many cases in which disputes related to the division of business empires have reached the court and have been in the headlines. Gautam Adani, the country’s second richest person, seems to be preparing a plan to avoid such a situation of dispute in his family.
Gautam Adani will retire in 8 years
A Bloomberg report quoted Adani Group chairman Gautam Adani as saying that he is planning to retire at the age of 70. Currently, Gautam Adani is 62 years old. That means he can retire from active business in the next 8 years. According to Gautam Adani’s plan, after him, the responsibility of leading the group will go to his sons and nephews. This change can be implemented from 2030.
Right now, the son and nephew are handling this responsibility
According to the report, after Gautam Adani retires, the business empire of the Adani Group worth millions of crores of rupees will be handled by his sons Karan Adani and Jeet Adani and nephews Pranav Adani and Sagar Adani. Gautam Adani’s elder son Karan Adani is currently the managing director of Adani Ports, while Jeet Adani is handling the operations of Adani Airports. Similarly, Pranav Adani is currently the director of Adani Enterprises, while Sagar Adani has got the post of executive director in Adani Green Energy.
Sons and nephews can get equal responsibility
Bloomberg’s report says that after Gautam Adani retires, all four successors may get equal responsibility in the group. At the same time, the responsibility of the group’s chairman may be given to his elder son Karan Adani or nephew Pranav Adani after him. According to the report, the transfer of succession can be done through the Adani Family Trust. A confidential agreement can be used for this transition.
Gautam Adani’s opinion on succession
According to Gautam Adani, succession is a very important issue to make the business sustainable. He says in an interview to Bloomberg – Succession is very important for the sustainability of the business. I am leaving this decision to the next generation. The change of leadership should be organic, gradual and systematic.
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