Adi Godrej to step down from Chairmanship; this person to take over

Godrej Industries Limited Chairman Adi Godrej would step down, and shall be replaced by Nadir Godrej, the commodity chemical company announced on Friday while releasing June quarter results.

Besides assuming Chairman’s charge, Nadir Godrej would continue to serve as the Managing Director of Godrej Industries, the company said in its exchange filing.

"Adi Godrej will step down as Chairman and from the Board of Directors of GIL. He will continue to serve as Chairman of the Godrej Group and Chairman Emeritus of GIL. Nadir Godrej, who is currently Managing Director of GIL, will take over as Chairman and Managing Director of the company," it said.

Adi Godrej, while commenting on the announcement said that it has been a privilege for him to serve Godrej Industries for over four decades.

He further 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. I am very confident that our best years are ahead of us, and I look forward to Nadir and our team achieving our exciting aspirations.”

Similarly, in his statement Nadir Godrej, acknowledged the measures taken by Adi Godrej during his tenure at the helm of GIL.

“On behalf of our team at Godrej Industries and our Board, I want to thank our Chairman for his vision, values, and exceptional leadership that has guided and shaped our 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 said.

On August 4, Adi Godrej announced to step down from the board of FMCG arm, Godrej Consumer Products Ltd (GCPL), effective next month. Wherein, he has passed the baton to his daughter Nisaba Godrej in 2017 as chairman, however, he will remain as chairman emeritus of the FMCG firm.