The company said that Adi Godrej's younger brother Nadir Godrej will become the Chairman and Managing Director at the Mumbai-headquartered GIL.
Renowned industrialist Adi Godrej is all set to step down as the Chairman of Godrej Industries Ltd (GIL) on October 1, 2021. The company announced on Friday that his younger brother Nadir Godrej, who currently is the GIL Managing Director, will succeed him.
In addition to stepping down as a Chairman of Godrej Industries Ltd (GIL), 79-year-old Adi Godrej will also step down from the GIL Board of Directors. Though, he will continue to serve as the Chairman of the Godrej Group and also as GIL Chairman Emeritus.
The company said that his younger brother, 69-year-old Nadir Godrej will become the Chairman and Managing Director at the Mumbai-headquartered GIL.
The outgoing Chairman, in regards to the latest development, said that it was a "privilege to serve the GIL for over four decades" during which it had delivered strong results and transformed the company.
Adi Godrej said in a statement, "I am grateful to our Board for their support and guidance; to all our team members whose passion, commitment, and hard work has driven our success; and to all our customers, business partners, shareholders, investors, and communities, for their continued partnership."
He also said that the company's "best years are ahead" and that he is looking forward to Nadir Godrej and his team achieving the exciting goals.
On the other hand, Nadir Godrej expressed the Board's gratitude to its outgoing Chairman "for his vision, values and exceptional leadership that guided and shaped" the company.
"Our leadership team is committed to building forward on these foundations; continuing to serve our people and communities, and creating long-term value for all our stakeholders," Nadir Godrej said.
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 "Adi Godrej to step down, Nadir Godrej to be new Chairman of Godrej Industries")
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