Gautam Adani Plans to Cede Control to Family by Early 2030s: Report
Adani Group chairman Gautam Adani, 62, plans to step down at the age of 70 and transfer control to his sons and their cousins by the early 2030s, according to report. This move will see Adani's four heirs sons Karan and Jeet, and their cousins Pranav and Sagar becoming equal beneficiaries of the family trust.
The transition will be guided by a confidential agreement that outlines the distribution of stakes in the conglomerate’s firms to the heirs, Bloomberg reported, citing sources familiar with the matter.
Karan Adani, the elder son, currently serves as the managing director of Adani Ports, while his younger brother, Jeet Adani, is the director of Adani Airports. Pranav Adani holds the position of director at Adani Enterprises, and Sagar Adani is the executive director of Adani Green Energy, as per the Adani Group website.
Pranav and Karan are considered the primary candidates to eventually assume the role of chairman, the report stated. Gautam Adani emphasized the importance of succession for business sustainability, stating, "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."
Adani's heirs confirmed that joint decision-making will continue even in crises or during major strategic decisions, ensuring cohesive leadership.
This news comes at a significant time for the Adani Group, as its flagship firm, Adani Enterprises, reported a more than doubling of its first-quarter profit. The conglomerate continues to expand its footprint in the new energy sector with substantial investments in renewable energy.
The strategic planning for succession underscores the group's commitment to long-term stability and growth, reinforcing its position as a major player in the global market.
