Gautam Adani, the 62-year-old chairman of the Adani Group, has announced plans to retire at the age of 70 and transfer control of the conglomerate to his sons and their cousins in the early 2030s. According to an reports, Adani’s four heirs—sons Karan and Jeet, along with cousins Pranav and Sagar—will each become equal beneficiaries of the family trust.
The succession plan involves a confidential agreement that will oversee the transition of ownership in the conglomerate’s various firms. Bloomberg News reported this information based on sources familiar with the arrangements.
Karan Adani, Gautam’s elder son, is currently the managing director of Adani Ports, while Jeet Adani holds the position of director at Adani Airports. Meanwhile, Pranav Adani serves as the director of Adani Enterprises, and Sagar Adani is the executive director of Adani Green Energy, according to the company’s website.
Reports highlight that Pranav and Karan are viewed as the leading candidates for the chairman role in the future. Gautam Adani has emphasized the importance of a well-planned succession strategy to ensure the long-term sustainability of the business. The transition is intended to be organic, gradual, and systematic, reflecting careful planning for the future leadership of the conglomerate.
Even after his retirement, decision-making within the Adani Group will continue to be a joint effort among the heirs. This approach is designed to maintain stability and ensure that strategic decisions, especially during crises, are made collectively.
This news comes as Adani Enterprises, the flagship company of the Adani Group, reported a significant boost in its first-quarter profits, more than doubling from previous figures. This growth has been attributed to increased investments in renewable energy, underscoring the group’s expanding focus on sustainable business practices.
