62-Year-Old Gautam Adani to Retire at 70, Passing Control to Sons and Cousins
Gautam Adani, Chairman of Adani Group, has announced plans to retire around the age of 70, transferring control to his sons Karan and Jeet, as well as his cousins Pranav and Sagar.
In a recent Bloomberg News interview, the 62-year-old business magnate detailed his intention to officially retire on his 70th birthday. His sons and cousins will assume equal stakes in the company, ensuring a smooth transition of leadership.
Currently, Karan Adani is the Managing Director of Adani Ports, and Jeet Adani serves as the Director of Adani Airports. Pranav Adani is the Director of Adani Enterprises, while Sagar Adani is the Executive Director of Adani Green Energy, according to the Adani Group website.
Bloomberg reports suggest that Pranav and Karan are potential candidates to succeed as chairman in the future. Gautam Adani has emphasized the importance of a gradual and systematic transition, stating, “Succession is crucial for business sustainability. I have left the choice to the second generation as the transition must be organic, gradual, and very systematic.”
Social Media Reaction:
The announcement has received a range of responses online. While some users welcome the move, others have criticized it as nepotistic.
One user wrote, “The country can’t wait. Gautam Adani or anyone else should retire immediately. I’ve been working around the clock for one and a half years to create a market vision. If they can’t decide without clouded thinking and biases, they should step down now! #stockmarketcrash #StockMarket”
Another user commented, “He wants to retire at 70. Indian corporate leaders usually never retire, even after becoming ‘chairman emeritus.’ This is quite refreshing.”
A third user replied, “Modi should take a page from Gautam Adani’s book, who has announced his retirement at 70 and will transfer control to his heirs. Modi is around 75 and should retire gracefully. But given his luxurious lifestyle, will he be able to give it up?”