Adi Godrej To Step Down As Chairman Of Godrej Industries, Nadir Godrej To Take Over

Nadir Godrej, who is currently serving as the Managing Director, will take over as Chairman and Managing Director of the company.

Adi Godrej. (File Photo/ Getty)

New Delhi: Veteran businessman Adi Godrej will step down as the Chairman of Godrej Industries Limited (GIL) as well as from the board, the company announced on Friday. According to reports, Adi Godrej will continue to serve as Chairman of the Godrej Group and Chairman Emeritus of GIL.

"Adi Godrej will step down as Chairman and from the Board of Directors of GIL. He will continue to serve as Chairman of the Godrej Group and Chairman Emeritus of GIL," the company said in an official announcement. 

Nadir Godrej, who is currently serving as the Managing Director, will take over as Chairman and Managing Director of the company.

The company said that changes to the board will be effective from October 1.

Speaking about the developments, the outgoing Chairman said that it was a "privilege to serve the GIL for over four decades" during which it had delivered strong results and transformed the company.

"I am grateful to our Board for their support and guidance; to all our team members whose passion, commitment and hard work has driven our success; and to all our customers, business partners, shareholders, investors, and communities, for their continued partnership," news agency IANS quoted Adi Godrej as saying. 

The 79-year-old businessman also expressed confidence that the company's "best years are ahead" and looked forward to Nadir Godrej and his team achieving the exciting aspirations.

Meanwhile, Nadir Godrej expressed the Board's gratitude to its outgoing Chairman "for his vision, values and exceptional leadership that guided and shaped" the company.

"Our leadership team is committed to building forward on these foundations; continuing to serve our people and communities, and creating long-term value for all our stakeholders," he said.