Veteran industrialist Adi Godrej will step down as chairman of the board of diversified conglomerate Godrej Industries.
He will continue to serve as chairman of the Godrej Group and emeritus chairman of Godrej Industries, the company said Friday.
Nadir Godrej, who is currently General Manager of Godrej Industries, will become the new Chairman and General Manager.
“It has been a privilege to serve Godrej Industries for more than four decades, delivering strong results and transforming our business,” said Adi Godrej.
“I am confident that our best years are ahead of us and I look forward to helping Nadir and our team realize our exciting ambitions.”
Nadir Godrej said, “On behalf of our team at Godrej Industries and our Board, I would like to thank our Chairman for his vision, values and exceptional leadership that has guided and shaped our company.”
The leadership team is committed to building on these foundations, continuing to serve people and communities and create long-term value for all stakeholders, he added.
Adi Godrej has been at the helm of several trade and industrial organizations. He was also chairman of the Confederation of Indian Industry (CII).
Godrej Industries is one of the holding companies of the Godrej Group with interests in consumer goods, real estate, agriculture and gourmet retail through subsidiaries and associates in 18 countries.