Adani Enterprises Clarifies Gautam Adani's Succession Plan
Adani Enterprises issued a statement on Wednesday clarifying Gautam Adani's succession plan. The company addressed recent reports about Adani's retirement and the distribution of his business among his heirs.
The statement emphasized that Adani's comments about succession were misconstrued. He did not specify any timeframe for his retirement and emphasized the gradual and organic nature of the succession process. Additionally, the statement clarified that Adani did not mention equal beneficial interest in the family trust for his heirs. He only mentioned the involvement of his two sons and two nephews in various businesses of the group.
Adani Enterprises also addressed the recent decline in share prices, stating that it was a market-driven correction and the company had no knowledge of any specific reason for the movement.
The statement concluded by highlighting the prominent roles played by Adani's four potential successors within the Adani Group. Pranav Adani, Karan Adani, Sagar Adani, and Jeet Adani all hold key positions in various sectors of the group and are seen as capable successors to Adani's legacy.