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Godrej family amicably splits 127-yr-old business into two groups
Photo courtesy: wikipedia.org

Godrej family amicably splits 127-yr-old business into two groups

| @indiablooms | 02 May 2024, 02:48 am

Mumbai: The Godrej family on Wednesday announced a strategic split of its conglomerate, setting the stage for the creation of two distinct entities: Godrej Enterprises and Godrej Industries, media reports said.

As outlined in a recent filing, this restructuring is contingent upon regulatory approvals, with both entities retaining the prestigious Godrej brand.

Under this realignment, Godrej Enterprises Group (GEG) will be led by 75-year-old Jamshyd Godrej, who will assume the roles of Chairperson and Managing Director.

Joining him in leadership is his niece Nyrika Holkar, appointed as Executive Director. GEG's diverse portfolio encompasses aerospace, aviation, defense, and liquid engines, among other sectors.

With a rich legacy at the helm of Godrej & Boyce, a company with roots dating back to 1897, Jamshyd Godrej brings extensive experience to this new venture.

On the other hand, Godrej Industries Group (GIG) will be chaired by 73-year-old Nadir Godrej, leading a group of listed companies, including Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet, and Astec Lifesciences.

He will be supported by his brother Adi Godrej and their immediate family in managing GIG. Adi Godrej, aged 82, transitioned from the chairmanship of Godrej Industries in August 2021, passing the baton to Nadir Godrej.

Looking ahead, the leadership of GIG will be entrusted to Pirojsha Godrej, son of Adi Godrej, succeeding Nadir Godrej in August 2026.

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