The Godrej Family Splits Its Business Empire Adi Godrej and Nadir Godrej will control the listed companies under Godrej Industries Group; while Jamshyd Godrej and Nyrika Holkar will control Godrej Enterprises comprising Godrej & Boyce and its affiliates
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After years of negotiations, the 127-year-old Godrej Group announced a family agreement under which Adi Godrej and Nadir Godrej will control the listed companies under Godrej Industries Group; while Jamshyd Godrej and Nyrika Holkar will control Godrej Enterprises comprising Godrej & Boyce and its affiliates. The split, according to the family's statement, is described as an ownership realignment of their shareholdings in the Godrej companies.
The realignment has been arrived at in a respectful and mindful way to maintain harmony and to better align ownership in acknowledgement of the differing visions of the Godrej family members. This will help maximize strategic direction, focus, agility, and will accelerate the process of creating long-term value for shareholders and all other stakeholders, the companies said in a statement.
Godrej Enterprises Group (GEG) comprises of Godrej & Boyce (G&B) and its affiliates, which have presence across multiple industries spanning Aerospace, Aviation, Defence, Engines and Motors, Energy, Security, Building Materials, Construction, Green Building Consulting, EPC Services, Intralogistics, Healthcare Equipment, Durables, Furniture, Interior Design, Architectural Fittings, IT, Software as well as Infrastructure Solutions.
Commenting on the future outlook, Jamshyd Godrej said: "Since 1897, Godrej & Boyce has always been driven by the strong purpose of nation building. With this future-facing family agreement now in place, we can further drive our growth aspirations with fewer complexities and focus on leveraging our core strengths in high tech engineering and design-led innovation across our strong portfolio of strategic, consumer and emerging businesses."
Godrej Industries Group (GIG), includes the listed companies, Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences. Nadir Godrej said "This deep purpose of innovating for a cause - the values of trust and respect and the belief in trusteeship and making communities that the companies operate in stronger and better - continue to form the bedrock of who we are 125 years later. We look forward to building on this legacy with focus and agility."
Both Groups will continue to use the Godrej brand and are committed to growing and strengthening their shared heritage.
