Gautam Adani to Transfer Control to Family by Early 2030s: Report
ECONOMY & POLICY

Gautam Adani to Transfer Control to Family by Early 2030s: Report

Gautam Adani, chairman of the Adani Group, who is 62 years old, intends to step down at the age of 70 and transfer control to his sons and their cousins in the early 2030s.

Upon his retirement, his four heirs'sons Karan and Jeet, along with their cousins Pranav and Sagar' are set to become equal beneficiaries of the family trust, as reported by Bloomberg.

A confidential agreement will govern the transition of stakes in the conglomerate's companies to the heirs.

Gautam Adani's elder son, Karan Adani, currently serves as the managing director of Adani Ports, while his younger son, Jeet Adani, is the director of Adani Airports, as detailed on the Adani Group's website. Pranav Adani is the director of Adani Enterprises, and Sagar Adani is the executive director of Adani Green Energy.

Pranav and Karan are the most likely candidates to eventually succeed as chairman.

Gautam Adani emphasised the importance of succession for business sustainability, stating that he has left the choice to the second generation, as the transition must be organic, gradual, and systematic.

The Adani children indicated in separate interviews with Bloomberg that even after Gautam Adani steps back, decision-making will continue to be a joint process, particularly during crises or major strategic decisions.

This report follows a period of significant growth for Adani Enterprises, the flagship firm of the Adani Group, which saw its first-quarter profit more than double as the conglomerate increased investments in renewable energy.

Gautam Adani, chairman of the Adani Group, who is 62 years old, intends to step down at the age of 70 and transfer control to his sons and their cousins in the early 2030s. Upon his retirement, his four heirs'sons Karan and Jeet, along with their cousins Pranav and Sagar' are set to become equal beneficiaries of the family trust, as reported by Bloomberg. A confidential agreement will govern the transition of stakes in the conglomerate's companies to the heirs. Gautam Adani's elder son, Karan Adani, currently serves as the managing director of Adani Ports, while his younger son, Jeet Adani, is the director of Adani Airports, as detailed on the Adani Group's website. Pranav Adani is the director of Adani Enterprises, and Sagar Adani is the executive director of Adani Green Energy. Pranav and Karan are the most likely candidates to eventually succeed as chairman. Gautam Adani emphasised the importance of succession for business sustainability, stating that he has left the choice to the second generation, as the transition must be organic, gradual, and systematic. The Adani children indicated in separate interviews with Bloomberg that even after Gautam Adani steps back, decision-making will continue to be a joint process, particularly during crises or major strategic decisions. This report follows a period of significant growth for Adani Enterprises, the flagship firm of the Adani Group, which saw its first-quarter profit more than double as the conglomerate increased investments in renewable energy.

Next Story
Infrastructure Urban

PM Modi unveils development projects in Bihar's Jamui

Prime Minister Narendra Modi launched a series of development projects worth Rs 6,640 crore in Bihar's Jamui district, aimed at transforming infrastructure, healthcare, education, and livelihoods, particularly in tribal areas. Modi attended a function commemorating the 150th birth anniversary of Birsa Munda, marking 'Janjatiya Gaurav Divas.' The PM unveiled a special commemorative coin and postal stamp in Munda's honor, before participating virtually in the 'Grih Pravesh' ceremony for 11,000 newly-built homes for tribal families under the PM Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN). The ..

Next Story
Infrastructure Urban

Jabil partners with Gujarat Government for Rs 1,000 crore investment in Dholera

US-based electronics manufacturer Jabil has signed a Memorandum of Understanding (MoU) with the Gujarat government to set up an electronics manufacturing services (EMS) facility in the Dholera Special Investment Region (DSIR). The MoU, valued at Rs 1,000 crore, was signed on November 14, 2024, in the presence of Gujarat Chief Minister Bhupendra Patel. The state-of-the-art manufacturing unit will focus on sectors including networking, automotive, and capital goods, and is expected to begin operations by 2027, creating around 5,000 jobs. Jabil, with over 100 global locations, will leverage its ..

Next Story
Infrastructure Energy

India signs MoU with IEA for Enhanced Cooperation on critical minerals

On November 14, 2024, India’s Ministry of Mines signed a Memorandum of Understanding (MoU) with the International Energy Agency (IEA) to strengthen cooperation in the critical minerals sector. The MoU, aimed at boosting data sharing, analysis, and policy recommendations, is designed to improve India's decision-making and resource management in this vital area. The agreement was signed by V. L. Kantha Rao, Secretary of the Ministry of Mines, and Dr. Fatih Birol, Executive Director of the IEA, in the presence of Union Minister G. Kishan Reddy. The collaboration will focus on capacity building..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000