Gautam Adani, chairman of the Adani group, plans to step down at 70, he told Bloomberg while sharing his succession strategy for his $213 billion business empire.
"My plan of succession started almost a decade ago and I gradually inducted our G2, Pranav, Karan, Sagar and now Jeet," he said. His sons - Karan (37) and Jeet (26) - and their cousins - Pranav (45) and Sagar (30) - will hold an equal stake in the family trust.
"I am happy that all of them are hungry for growth, which is not common in the second generation" he added.
The second generation already has key roles within the company. Karan Adani is overseeing businesses including cement, ports and logistics. Jeet Adani, who was in college at the time of the decision, oversees India's biggest network of privately operated airports as well as the group's defense arm and digital business. Pranav Adani joined the group in 1999 and leads the group's agro and oil sectors while Sagar Adani looks after the group's energy business as well as finance.
"Succession is very, very important for the business sustainability," Mr Adani said. "I left the choice to the second generation as the transition must be organic, gradual and very systematic," he added.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
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