The Godrej group splits up into two, keeping aside the 127 years bond
The renowned business family has decided to split the conglomerate within an agreement into two branches within the family as Godrej Industries and Godrej Enterprises. The Godrej Group is well known for its widespread business from soaps and appliances to real estate. They have decided to work as the two entities.
As per this agreement, Adi Godrej and Nadir Godrej will control the Godrej Industries which consists five more firms as Godrej Industries, Godrej Consumer products, Godrej Properties, Godrej Agrovet and Astec Lifesciences. The rest will be managed by their cousins Jamshyd Godrej and Smita Godrej Crishna.
Both of them will have a control over Godrej & Boyace and the other firms associated with it along with a land bank that contains lavish properties in Mumbai. An agreement regarding the ownership of these huge assets will be made soon that will contain the property ownership rights of the 3,400 acres land in Mumbai, Vikhroli land etc that will be under the control of Godrej & Boyce.
Jamshyd Godrej is now serving as the chairperson and Managing Director of Godrej Enterprises Group that consists various industries such as aerospace, defence, furniture, IT etc. The daughter of Smita Godrej, Nyrika Holker will be joining the company as the executive director of this group.
This “ownership realignment” seeks to provide different perspective within the Godrej family members henceforth widening various strategies, approach, focus and direction. The move taken by Godrej family can upgrade as well as enhance the numbers of stakeholders and shareholders associated with the family. This realignment also includes certain transition. As per the sources, Adi Godrej’s son, Pirojsha Godrej will join the group as the executive vice chairperson and may be he can be the next chairperson of Godrej Industries Group in the coming years.
This strategic move of the Godrej Group will have a huge impact that will redefine its strength and bring growth with its diverse forward-looking approach.
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