Gautam Adani, Indian business Tycoon and Asia’s second-richest person, has decided to step down from his position in early 2030 and transfer his control to his sons and nephews. The 62-year-old multi-billionaire will retire at the age of 70 and has emphasized the importance of succession in an interview with Bloomberg News. According to the Scions, after his retirement, his sons Karan and Jeet and nephews Pranav and Sagar will become equal beneficiaries in the fund trust.
Gautam Adani, in an interview with Bloomberg News, mentioned that it is important for the longevity of the business that the succession should be organic and gradual. He mentioned, “I left the choice to the second generation as the transition must be organic, gradual, and very systematic.” As per the Reuters report, a confidential agreement will ensure the smooth transfer of stake in the company to the heirs. He further states that his successors will deliver as they are hungry for growth. “I am happy that all of them are hungry for growth, which is not common in the second generation. They have to work together to build a legacy.”
About the Successors
According to the Adani Enterprises website, Adani’s eldest son, Karan, is the managing director of Adani Ports, while his youngest son, Jeet, is the director of Adani Airports. Their cousin Pranav is the director of Adani Enterprises, while his younger brother Sagar is the executive director of Adani Green Energy. In a separate interview, these four brothers reported that they encourage joint decision-making, whether it is an event of crisis or a major strategic decision.
Who Will Be The Next Chairman Of The Adani Group?
Adani Group is one of the largest companies in India, employing thousands of people, so smooth succession is important. The succession may pose significant risks for the billionaire clan and have major repercussions for India’s economy and beyond. However, it is not yet clear who will be head of the Adani group, but as per Bloomberg, Pranav and Karan are the potential contenders.
