Billionaire Nadir Godrej To Hand Over Reins At Godrej Industries To Nephew, Pirojsha |
Mumbai-based Indian billionaire Nadir Godrej said he will step down as chairperson of $6.1 billion revenue Godrej Industries Group when he turns 75 this August. He will then take on the role of chairman emeritus, pushing ahead the succession plan in one of India’s largest conglomerates with interests in agribusiness, consumer goods, chemicals and real estate.
Nadir will be succeeded by his older brother Adi Godrej’s Son, Pirojsha Godrej, who is currently the chairman of Godrej Properties. Nadir’s son, Burjis Godrej, who is currently an executive director at Godrej Agrovet, will become chairman of the animal feeds and crop protection unit and join the board of Godrej Industries as a non-executive director, the Mumbai-listed company announced on Monday.
“It has been a privilege to serve the Godrej Industries Group over several decades and to work alongside exceptional colleagues who have built this........