Gautam Adani, the 62-year-old chairman of Adani Group, has revealed his succession plans in a recent interview. The Adani Group Chairman will be retiring after 8 years at the age of 70. He will handover all control to his sons and their cousins in the early 2030s.
Emphasizing the importance of succession for business sustainability, Gautam Adani esais that he left the choice to the second generation as the transition must be organic, gradual and very systematic.
Adani has four heirs – sons Karan and Jeet, and their cousins Pranav and Sagar. They will inherit the empire with equal beneficiaries of the family trust.
The Adani children informed Bloomberg in separate interviews that even in the event of a crisis or a major strategic decision, joint decision-making will continue when Gautam Adani steps back.
Currently, Gautam Adani’s elder son Karan Adani serves as the managing director of Adani Ports, while his younger son Jeet Adani holds the position of director at Adani Airports. Pranav Adani is the director of Adani Enterprises, and Sagar Adani is the executive director of Adani Green Energy.
According to a Bloomberg report, Pranav and Karan are the most likely candidates to eventually assume the role of chairman.
This report comes as Adani Enterprises, the flagship firm of the Adani Group, witnessed its first quarter profit more than double, driven by the conglomerate’s expansion of its new energy business through increased investments in renewable energy.