Gautam Adani has revealed his succession plan for the first time in an interview. He hinted how the business will be shifted to the next generation in upcoming years.
In an interview with Bloomberg, Adani Group Chairman Gautam Adani revealed that he is planning to step down at the age of 70 and will shift control of his business to his scions by 2030.
“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,” Gautam Adani said.
Adani Group chairman Gautam Adani is currently 62 years old and plans to retire at the age of 70. The control of the business will further be shifted to his sons and their cousins in the early 2030s according to Bloomberg News.
What Is Gautam Adani’s Succession Plan?
Business Tycoon opened about the succession plan with the scions, he told Bloomberg that he asked the four younger men whether they want to carve up the Adani Group’s businesses between themselves and part ways. He has given them three months to them to decide.
A confidential agreement will dictate the transition of stakes in the conglomerate’s firms to the heirs, the Bloomberg report said, citing people familiar with the matter.
According to the same report, the next generation of the business group went back to the billionaire & told him they wanted to run the business together as a family, even after the founder’s departure.
Who Is Currently At Major Position In Adani Group?
Gautam Adani’s sons Karan (37) and Jeet (26) along with his nephews Pranav (45) and Sagar (30) are in key positions in the conglomerate.
Karan Adani looks after businesses including cement, ports and logistics, along with human resources.
Jeet Adani oversees India’s biggest network of airports, along with the defense arm and digital businesses of the Adani group.
Gautam Adani’s brother Rajesh Adani’s son Pranav Adani looks after the group’s consumer businesses, consumer goods, gas distribution, media and real estate.
Sagar Adani oversees the group’s energy business along with finance.
Adani Total Business Coverage
Gautam Adani’s major firm Adani Enterprises’ profit doubled during the first quarter (Q1 FY2025) as the conglomerate expanded its new energy business through more investments in renewable energy. The firm’s consolidated net profit was at Rs 1,458 crore in the quarter which is 116 percent higher than a Rs 675 crore earning reported in the same quarter last year.