Gautam Adani announces his retirement plan, will handover his Rs 1785000 crore business empire to...

Gautam Adani, the 62-year-old chairman of the Adani Group, plans to retire at 70, passing control to his sons and their cousins in the early 2030s. In an interview with Bloomberg News, Adani emphasised the importance of a well-planned succession for business sustainability. He stated, "Succession is very, very important for business sustainability. I left the choice to the second generation as the transition must be organic, gradual and very systematic."

Upon his retirement, Adani's four heirs—sons Karan and Jeet, and their cousins Pranav and Sagar—will inherit equal shares of the family trust. The transition of stakes in the conglomerate's firms will be guided by a confidential agreement, according to Bloomberg sources.

Karan Adani, the elder son, is currently the managing director of Adani Ports. His younger brother, Jeet Adani, is the director of Adani Airports. Their cousin, Pranav Adani, serves as the director of Adani Enterprises, while Sagar Adani is the executive director of Adani Green Energy.

Bloomberg notes that Pranav and Karan are likely candidates to eventually become chairman. Despite Gautam Adani's retirement, joint decision-making will continue, even in times of crisis or during major strategic decisions, as confirmed by the Adani heirs in interviews with Bloomberg.