Gautam Adani to hand over control of Adani Group to family by early 2030s: Report

Adani succession plan: Gautam Adani, chairman of the Adani Group is planning  to step down at the age of 70, transitioning control of his conglomerate to his sons and cousins by the early 2030s, as reported in a Bloomberg News interview published Monday.

Upon his retirement, Adani's four heirs—sons Karan and Jeet, and their cousins Pranav and Sagar—are set to become equal beneficiaries of the family trust. A confidential agreement will outline the transfer of stakes in the conglomerate’s various businesses to these successors.

The Adani Group has not yet responded to a request for comment on the matter. According to the Adani Group's website, Karan Adani is the managing director of Adani Ports, while Jeet Adani serves as the director of Adani Airports. Pranav Adani is the director of Adani Enterprises, and Sagar Adani is the executive director of Adani Green Energy.

Bloomberg’s report suggests that Pranav and Karan are the leading candidates to eventually assume the role of chairman. Gautam Adani emphasised the importance of a systematic and gradual transition, stating, "Succession is very, very important for business sustainability. I left the choice to the second generation as the transition must be organic, gradual, and very systematic."

Even after Gautam Adani's departure, joint decision-making will continue among the heirs, including during crises or major strategic decisions. The news comes as Adani Enterprises reported a more than doubling of first-quarter profits, driven by its expansion in renewable energy investments.

(With Reuters inputs)