-
Adani Enterprises clarifies Gautam Adani’s succession plan, stating he was misquoted on heirs and equal beneficial interest in the family trust.
-
The company emphasizes that succession is a journey, not an event, and must be organic, gradual, and systematic.
-
The Adani Group denies any control or knowledge of specific reasons for the movement in share prices.
Adani Enterprises has issued a clarification on Gautam Adani’s succession plan, stating that he was misquoted concerning heirs and equal beneficial interest in the family trust. The company emphasized that Adani’s comments on succession were taken out of context and that he did not specify any date or point in time for his retirement.
The Adani Group also highlighted the involvement of Gautam Adani’s two sons and two nephews in various businesses of the group. The company denied any control or knowledge of specific reasons for the movement in share prices, attributing it to market-driven forces.
The clarification comes after a report by Bloomberg stated that Adani plans to step down from the business at 70 and divide it among four successors through a family trust. The Adani Group has emphasized its commitment to business sustainability and organic, gradual, and systematic succession.
