ADI GODREJ TO STEP DOWN AS GODREJ INDUSTRIES CHAIRMAN
Nadir Godrej to take over
Adi Godrej will step down as chairman of Godrej Industries (GIL), the holding company of the Godrej group, on October 1 and his younger brother Nadir Godrej, GIL’S current managing director, will replace him.
Adi Godrej, 79, will also step down from GIL’S board but will continue to serve as the chairman of the Godrej group and GIL as chairman emeritus. “It was a privilege to serve the GIL for over four decades, during which it had delivered strong results and transformed the company,” he said.
Godrej said the company’s “best years are ahead” and looks forward to Nadir and his team achieving exciting aspirations.
“Our leadership team is committed to building forward on these foundations; continuing to serve our people and communities, and creating long-term value for all our stakeholders,” said Nadir Godrej, 69.
GIL has interests in consumer goods, agriculture, real estate and financial services among other sectors.
Earlier this month, the group’s consumer goods company Godrej Consumer Products said Adi Godrej will step down from the board of the company from next month. He will remain chairman emeritus of the FMCG firm as well.
The industrialist passed on the baton of GCPL to his younger daughter Nisaba Godrej in 2017 after leading the company for 17 years. She is the chairperson and managing director of the ~11,000crore group firm.
Adi Godrej headed several Indian trade and industrial bodies. He was the chairman of the board of the Indian School of Business, and is a former president of the Confederation of Indian Industry.
He has been a member of the dean’s advisory council of the MIT Sloan School of Management, chairman of the board of governors of the Narsee Monjee Institute of Management Studies, and a member of the Wharton Asian Executive Board.