Gautam Adani to step down at 70, shift control to family: Report
"Succession is very, very important for the business sustainability. I left the choice to the second generation as the transition must be organic, gradual and very systematic," Gautam Adani said
Gautam Adani and his son Karan Adani. File photos from Adani Group website.
Gautam Adani, the chairman of Adani Group, has revealed his retirement and succession plans and will step down at 70, according to a media report on Monday (August 5).
A report in news agency Reuters quoting Gautam Adani’s interview with Bloomberg News, said he will retire in the early 2030s.
Gautam Adani, 62, will transfer the control of the Adani Group to his four heirs – sons Karan and Jeet, and their cousins Pranav and Sagar – will become equal beneficiaries of the family trust, according to the scions, the report said.
"Succession is very, very important for the business sustainability. I left the choice to the second generation as the transition must be organic, gradual and very systematic," Gautam Adani said.
Karan is currently the Managing Director of Adani Ports and SEZ Limited (APSEZ) while Jeet is working with all the verticals of the Adani Group. Jeet is also spearheading the Adani Airports business as well as the Adani Digital Labs, according to the Adani Group’s website.
Pranav is the Managing Director (Agro, Oil & Gas) and Director of Adani Enterprises, the in-house incubator of the Adani Group. He also heads a diverse portfolio of businesses such as City Gas Distribution, Agro, Real Estate and Natural Resources.
Sagar is the Executive Director at Adani Green Energy. He currently oversees organisation building as well as all strategic and financial matters of Adani Green Energy.