Gautam Adani, chairman of the Adani Group, has revealed plans to step down at the age of 70, passing control of his business empire to his sons and their cousins by the early 2030s. In an interview with Bloomberg News, Gautam Adani emphasized the importance of a well-structured succession plan to ensure business sustainability.
The transition will see Gautam Adani’s four heirs — his sons Karan and Jeet, and their cousins Pranav and Sagar — becoming equal beneficiaries of the family trust. A confidential agreement will outline the transfer of stakes in the conglomerate’s firms to the heirs.
Karan Adani is Gautam Adani’s elder son and is currently overseeing businesses including cement, ports and logistics which are some of the group’s most established units and have the most steadiest cash flows.
Pranav Adani joined the group in 1999 and oversees most of its consumer business, including consumer goods, gas distribution, media and real estate. Pranav Adani is running one of the group’s most high-profile projects: redeveloping Asia’s largest slum Dharavi.
Analysts say Karan Adani, the managing director of Adani Ports, and Jeet Adani, the director of Adani Airports, currently hold key positions within the group. Pranav Adani oversees Adani Enterprises, while Sagar Adani serves as the executive director of Adani Green Energy. According to the Bloomberg report, Pranav and Karan are the most likely candidates to eventually take over as chairman.
Gautam Adani emphasized the need for an “organic, gradual, and very systematic” transition. He expressed confidence in the next generation’s ability to maintain joint decision-making, even during crises or major strategic decisions.
The announcement comes at a time when Adani Enterprises, the flagship firm of the group, reported a significant increase in first-quarter profits, driven by expansions in renewable energy investments. The Adani Group’s focus remains on expanding its network and strategic development, both within India and internationally.