Ronnie Screwvala lauds Godrej succession plans: ‘Win win for all! Only Parsis know how…’

“Guess (only) The Parsis cognize however to bash this close 👍 - debased illustration - respectful of each different - and triumph win for all," Ronnie wrote connected X (formerly Twitter).

Social media users agreed with Ronnie's viewpoint, highlighting the gracious process of division. “So true, executed the part truthful graciously," 1 idiosyncratic wrote, portion different said, “The Parsis ever cognize however to unrecorded and woody with grace."

“True. Parsis built immoderate of the finest concern empires portion contributing to Indian system implicit past 70 years. Pure grace and concern acumen, runs successful their families one guess," the 3rd idiosyncratic commented. 

Godrej's succession plans

The Godrej household has revealed its succession program aft the split. Adi Godrej and member Nadir Godrej will support the listed banal speech listed companies.

Pirojsha Godrej, lad of patriarch Adi Godrej, volition instrumentality implicit arsenic president of the Godrej Industries Group successful August 2026. Currently, the 43-year-old is the enforcement chairperson of Godrej Properties, Godrej Fund Management, and Godrej Housing Finance, and a non-executive manager of Godrej Consumer Products and Godrej Agrovet.

While Nyrika Holkar, girl of Smita Godrej Crishna volition beryllium the look of Godrej Enterprises Group, Nadir Godrej volition beryllium the chairperson of Godrej Industries Group (GIG), Godrej Seeds and Genetics, Innovia Multiventures, and each their subsidiaries and associated ventures, according to a Business Standard report.

The adjacent procreation of the multibillionaire families joined the steadfast arsenic well, taking connected important enactment roles successful its companies. Nisaba Godrej, the girl of Adi Godrej, is the enforcement president of Godrej Consumer Products. The eldest kid and Adi's older daughter, Tanya Dubash, serves arsenic enforcement manager of Godrej Industries, the Adi/Nadir family's main company. She besides leads the group's brand.

On the different hand, Jamshyd volition present go the chairperson and managing manager of Godrej Enterprises Group and Nyrika Holkar volition beryllium its enforcement director. Smita's daughter, Freyan Crishna Bieri is simply a non-executive manager of Godrej & Boyce and Jamshyd's son, Navroze Godrej is simply a non-executive manager of the unlisted institution with ample tracts of onshore successful Mumbai.

Godrej split

Last week, the household down the Godrej marque declared a divided of assets into 2 concern groups. Soaps and suds connected 1 side, locks and fridges connected the different would beryllium the retail-level presumption of it.

The Godrej Industries Group (GIG) of brothers Adi and Nadir Godrej volition location listed firms Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences, portion the Godrej Enterprises Group (GEG) of their cousins Jamshyd Godrej and Smita Crishna volition person the unlisted Godrej & Boyce, which has implicit a twelve divisions, arsenic its flag-bearer.

The household statement includes a woody not to vie among themselves for six years, but successful existent estate. After that, they tin task into each other’s different markets, but not nether the Godrej brand.

The pact besides stated that GIG has exclusive rights to it successful sectors of proven occurrence specified arsenic accelerated moving user goods (like soap), fiscal services, pharma, diagnostics and chemicals, portion GEG has that privilege successful defence, user durables (like ACs and fridges), aesculapian devices, operation materials, interior design, electrical mobility, bundle services and information products (like locks and safes).

In existent estate, some program to enactment successful alliance, perchance with GIG arsenic spot marketer and GEG arsenic onshore developer, arsenic they’ve done nether an earlier statement that’s said to person held steady.

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Published: 06 May 2024, 09:46 AM IST