गोदरेज परिवार ने 127 वर्षों के बाद विभाजन की घोषणा की: किसे क्या मिलेगा

गोदरेज परिवार ने 127 वर्षों के बाद विभाजन की घोषणा की: किसे क्या मिलेगा

Godrej Family Announces Split After 127 Years: Who Gets What

Godrej Group, a 127-year-old conglomerate, splits as founding family agrees to ownership realignment, with Adi and Nadir Godrej retaining key businesses.

  • Business
  • 255
  • 01, May, 2024
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Sampda Gupta
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Godrej Family Announces Split After 127 Years: Who Gets What

New Delhi: The founding family of the 127-year-old Godrej Group, which spans from soaps and home appliances to real estate, has reached an agreement to split the conglomerate. Adi Godrej and his brother Nadir will retain Godrej Industries, which includes five listed firms. Cousins Jamshyd and Smita will take control of unlisted Godrej & Boyce and its affiliates, along with a substantial land bank, including prime property in Mumbai. The split divides the group between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side, and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other, according to a statement issued by the group.

Godrej Enterprises Group, which comprises Godrej & Boyce and its affiliates across multiple industries like aerospace, aviation, defence, furniture, and IT software, will be controlled by Jamshyd Godrej as chairperson and managing director. His niece, Nyrika Holkar (42), will be the executive director. Their families will oversee this arm, which will also hold the land bank, including 3,400 acres of prime land in Mumbai. Godrej Industries Group, including listed companies like Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet, and Astec Lifesciences, will have Nadir Godrej as chairperson.

The group will be controlled by Adi, Nadir, and their immediate families. Pirojsha Godrej, 42, son of Adi, will be the executive vice-chairperson of GIG and is set to succeed Nadir as the chairperson in August 2026, as per the statement. The split is described by the Godrej family as "an ownership realignment" of the shareholdings in the Godrej companies. It has been structured to maintain harmony and align ownership in acknowledgement of the differing visions of the family members, the statement said. The split is expected to help maximize strategic direction, focus, and agility, accelerating the process of creating long-term value for shareholders and stakeholders. Both groups will continue to use the Godrej brand and are committed to growing and strengthening their shared heritage. The Godrej Group traces its origins to 1897 when lawyer-turned-entrepreneur Ardeshir Godrej succeeded in locksmithing after failed ventures into medical devices.

The group was inherited by his younger brother Pirojsha as Ardeshir did not have any children. Pirojsha's children, Burjor (Adi and Nadir's father) and Naval (Jamshyd and Smita's father), eventually took over the helm of the group. To facilitate the split, the two sides have resigned from the boards of companies in rival camps. Adi and Nadir Godrej resigned from the Godrej & Boyce Board, while Jamshyd Godrej left his seat on the boards of GCPL and Godrej Properties. The realignment will be implemented after obtaining the relevant regulatory approvals, the statement added. In conclusion, the Godrej family's realignment of the conglomerate marks a significant change in the leadership and ownership structure of one of India's oldest and most respected business groups.

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Sampda Gupta

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