The Godrej family has announced the reorganization of their shareholdings in the Godrej Companies. Adi Godrej and his brother Nadir will retain Godrej Industries, which has five publicly traded companies, while cousins Jamshyd and Smita will acquire unlisted Godrej & Boyce and its related companies, as well as an estate with prime property in Mumbai.
The 127-year-old Godrej Group's founding family has agreed to split the business, with Adi Godrej and his brother Nadir keeping Godrej Industries, which has five listed companies and cousins Jamshyd and Smita getting unlisted Godrej & Boyce and the rest of its subsidiaries, as well as a land bank, including prime Mumbai property.
The Godrej Industries Group (GIG), comprising the listed firms Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet, and Astec Lifesciences, will be chaired by Nadir Godrej and controlled by Adi Godrej, Nadir Godrej, and their immediate families. Pirojsha Godrej will be the executive vice chairperson of GIG, succeeding Nadir Godrej as chairperson in August 2026.
Jamshyd Godrej will serve as chairperson and managing director of Godrej Enterprises Group, which includes Godrej & Boyce and its affiliates with operations in areas ranging from aerospace and aviation to defense, furnishings, and information technology. His sister Smita's daughter, Nyrika Holkar, will serve as executive director.
The Godrej family stated that The change in position has been agreed upon politely and conscientiously to maintain unity and to better align ownership in recognition of the varied ideas of the Godrej family members.
Further said, This will contribute to maximizing strategic direction, focus, and agility, as well as speed up the method of creating lasting value for shareholders and other stakeholders. Both groups will continue to use the Godrej brand and are dedicated to expanding and strengthening their mutual legacy.
To facilitate the separation, the two parties resigned from boards of corporations in opposite camps. Adi and Nadir Godrej left the Godrej & Boyce Board, while Jamshyd Godrej left the boards of GCPL and Godrej Properties.
Also Read: Court orders Swiggy to pay compensation of Rs. Rs 5000 fine to customer, know why?
Read Exclusive COVID-19 Coronavirus News updates, at MyNation.