Gautam Adani will step down? 3 months given by businessman to his descendants to decide 'Succession Plan'
Gautam Adani has revealed his succession plan for the first time in an interview. He indicated how this business will be transferred to the next generation in the future.
In an interview with Bloomberg, Adani Group chairman Gautam Adani revealed that he plans to step down at the age of 70 and will be in control of his business till 2030.
“Succession is very important for business sustainability. I left the choice to the second generation because the transition should be organic, gradual and very systematic,” said Gautam Adani.
Adani Group Chairman Gautam Adani is currently 62 years old and plans to retire at the age of 70. According to Bloomberg News, control of the business will be passed to his sons and cousins as early as 2030.
What is Gautam Adani's Succession Plan?
The business tycoon opened up about the succession plan with descendants, telling Bloomberg that he had asked the four young men if they wanted to make the Adani Group business their own and in some ways. He has given them three months to take a decision.
The confidential deal will transfer stakes in the group's companies to heirs, a Bloomberg report said, citing people familiar with the matter.
According to the same report, the next generation of the business conglomerate went back to the billionaire and told them that they wanted to run the business together as a family even after the founder's departure.
Who currently holds the key position in Adani Group?
Gautam Adani's sons Karan (37) and Jeet (26) and his nephews Pranav (45) and Sagar (30) hold key positions in the group.
Karan Adani looks at businesses including cement, ports and logistics along with human resources.
Jeet Adani oversees India's largest network of airports along with Adani Group's defense arm and digital businesses.
Pranav Adani, son of Gautam Adani's brother Rajesh Adani, oversees the Adani Group's consumer businesses, consumer goods, gas distribution, media and real estate.
Sagar oversees the group's energy business with Adani Finance.
Adani Total Business Coverage
Profit of Gautam Adani's flagship firm Adani Enterprises doubled in the first quarter (Q1 FY2025) as the group expanded its new energy business by investing more in renewable energy. The company's consolidated net profit for the quarter stood at Rs. 1,458 crore, compared to Rs. 675 crore which is 116 percent higher than revenue.
