Adani Group chairman Gautam Adani, 62, plans to step down from the infrastructure conglomerate he founded in 1988 at the age of 70 and transfer control to his two sons and two nephews in the early 2030s.
However, challenges of a four-way leadership structure, political scrutiny, legal and reputational risks could impact the conglomerate’s long-term sustainability, the report says.
Gautam’s sons, Karan (37) and Jeet (26), are involved in the ports and airports businesses, while his nephews, Pranav (45) and Sagar (30) oversee the FMCG and green energy portfolios. Pranav is the son of Gautam’s older half-brother Vinod Adani and Sagar is the son of his younger brother Rajesh Adani. Pranav and Karan seem to be the obvious candidates to succeed Gautam as chairman, however, both told that there are no plans for either to take charge.
When Gautam retires, his four heirs will become equal beneficiaries of the family trust. A confidential agreement will dictate the transition of stakes in the conglomerate’s firms to the heirs, the report said. The group’s various companies are controlled by the family through special purpose vehicles, overseas entities, family trusts, and domestically incorporated entities.
