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01/05/24 | 6:17 pm

Godrej family splits 127-year-old business empire

The founding family of the 127-year-old Godrej Group, known for its diverse portfolio ranging from locks to soaps to aerospace and real estate, has reached an agreement to split the conglomerate, the group said in a statement.

The realignment within the conglomerate, established in 1987, has been conducted in a “respectful and mindful” manner to maintain harmony and better align ownership in recognition of the differing visions of the Godrej family members, the family stated in a press release.

This move is anticipated to enhance strategic direction, focus, agility, and expedite the process of creating long-term value for shareholders and all stakeholders involved, according to the release.

The Godrej Industries Group (GIG) will undergo leadership changes, with Jamshyd Godrej as the Chairperson and Managing Director of Godrej Enterprises, Nyrika Holkar as Executive Director.

Nadir Godrej will continue as the Chairperson of GIG, with Adi Godrej and their families providing management oversight. Pirojsha Godrej will serve as Executive Vice Chairperson, and will succeed Nadir as Chairperson in August 2026.

Jamshyd Godrej expressed optimism about the future growth prospects, emphasizing the importance of leveraging core strengths in high-tech engineering and design-led innovation across the conglomerate’s diverse business portfolio.

Nadir Godrej reflected on the enduring values of trust, respect, and commitment to community betterment, emphasizing the continued relevance of these principles in shaping the conglomerate’s identity over its long history.

The realignment will be executed once the relevant regulatory approvals have been secured.

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