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HomeNewsGodrej Family splits group amicably: Adi-Nadir to control listed entities, Jamshyd Godrej...

Godrej Family splits group amicably: Adi-Nadir to control listed entities, Jamshyd Godrej to oversee Godrej Enterprises

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Following years of negotiations, the Godrej family announced a family settlement. In this arrangement, Adi Godrej and Nadir Godrej will take charge of the listed companies in the group, while Jamshyd Godrej and Nyrika Holkar will be responsible for overseeing Godrej Enterprises, which includes Godrej & Boyce and its affiliates.

In a statement released late on Tuesday, the group expressed, “The realignment has been achieved with respect and consideration to uphold harmony and to more closely align ownership, recognizing the diverse visions among the members of the Godrej family. This will enhance strategic direction, focus, agility, and expedite the creation of long-term value for shareholders and all stakeholders involved.”

The listed companies within the Godrej Industries Group (GIG) include Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet, and Astec Lifesciences. Nadir Godrej will serve as the chairperson, with Pirojsha Godrej appointed as the Executive Vice Chairperson of GIG. Pirojsha Godrej is slated to take over as Chairperson from Nadir Godrej in August 2026.

Jamshyd Godrej, serving as the chairperson and managing director of Godrej Enterprises, along with Nyrika Holkar, the executive director, will oversee a diverse portfolio of businesses covering Aerospace, Aviation, Defence, Engines and Motors, Energy, Security, Building Materials, Construction, Green Building Consulting, EPC Services, Intralogistics, Healthcare Equipment, Durables, Furniture, Interior Design, Architectural Fittings, IT, Software, and Infrastructure Solutions.

Continue Exploring: Godrej Consumer Products achieves high single-digit volume growth despite operating challenges in Q4 FY24

“In our journey since 1897, Godrej & Boyce has consistently pursued the noble purpose of nation-building. With the establishment of this forward-looking family agreement, we are poised to pursue our growth objectives with greater clarity and concentrate on harnessing our fundamental strengths in cutting-edge engineering and design-driven innovation across our robust array of strategic, consumer, and emerging ventures,” remarked Jamshyd Godrej in the statement.

As per the statement, both factions remain dedicated to utilizing the Godrej brand and are steadfast in their resolve to nurture and enhance their common legacy.

Nadir Godrej stated that the group will persist in advancing its legacy with precision and adaptability.

In a filing with the exchange, Godrej Industries explained the settlement’s rationale, stating, “The third and fourth generations of the Family Branches hold differing interests and perspectives regarding various aspects such as strategic direction, growth, and governance across the entities of the Godrej Group, including the company. To maintain mutual respect, goodwill, harmony, and to address the diverse expectations and strategic preferences of each Family Branch, an arrangement settlement has been agreed upon…”

Following the settlement, Adi Godrej and Nadir Godrej members will extend an open offer to the public shareholders of Astec Lifesciences due to an indirect change in Astec’s shareholding.

The settlement explicitly states that shares held by either group in any of the companies will not be transferred to competitors without prior permission from the other group.

Continue Exploring: From Ghee resurgence to K-Food craze: Godrej Food Trends Report 2024 spotlights culinary trends shaping India’s gastronomic landscape

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