The 62-year-old Adani Group Chairman, Gautam Adani, plans to step down at 70 and pass on control of his sprawling business empire to his sons in the early 2030s. In an August 5 interview with Bloomberg News, Adani spoke for the first time about his strategy for succession, outlining how important business sustainability is through structured and incremental transition.
“One day,” Adani asked a question during a family lunch with his two sons and two nephews, “Do you want to separate the businesses of the Adani Group and work independently, or stay together?” He gave them three months to be able to think over this decision. After some time, his sons, Karan and Jeet Adani, and cousins Pranav and Sagar Adani decided to keep running the group together as one family even after Adani’s retirement.
Adani explained that this succession plan would be “organic,” incremental, and gradual. He simply did not give details of the transition to the second generation. Bloomberg reports that all four heirs will become equal beneficiaries of a family trust governed under a secretive agreement.
Starting with its infrastructure, ports, shipping, cement, and solar energy sector businesses lodged in 10 listed entities, the market capitalization is $213 billion for the Adani Group. According to the heir apparent Karan Adani, the prospective scion of the ports business explained that his group’s vision of growth—first within India, then in neighboring countries—with India possibly acting as an alternative to current hubs like Dubai or Singapore in years to come.
This type of strategic planning reflects the commitment of the Adani Group to continuity and growth, ensuring succession in leadership will improve stability and, hence, long-term growth prospects for its conglomerate.
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Source: Moneycontrol
News Desk
