Gautam Adani to retire at 70, hand over empire to sons by early 2030s: Report
According to media reports Adani said this in an interview to Bloomberg News
Gautam Adani, 62, has reportedly said that he plans to retire at the age of 70 and transfer control to his sons and their cousins in early 2030s.
According to media reports Adani said this in an interview to Bloomberg News.
"Succession is very, very important for business sustainability," he reportedly said and added that he preferred an organic, gradual, and systematic transition.
Talking about the succession plan Adani shared that he gave his two sons Karan and Jeet and their two cousins Pranav and Sagar three months to decide on how they would want to run the business after he steps down.
According to him, the four brothers chose to run the group as a united family even after their father steps down. This decision aligns with the family's values and ensures continuity and stability for the Adani Group, he is reported to have said.
According to Bloomberg, Adani's four heirs will be equal beneficiaries of the family trust, guided by a confidential agreement. This structure ensures that the family's legacy and business empire remain intact and continue to flourish under the next generation's leadership.
Karan Adani serves as the Managing Director of Adani Ports, Jeet Adani is the director at Adani Airports. Pranav Adani is the director at Adani enterprises and Sagar Adani is the Executive director of Adani Green Energy.
Adani Group boasts a market capitalization of $213 billion across ten listed entities.
