Days after Gautam Adani announces his retirement plan, Adani Group makes big announcement on succession plan

In a cloud of confusion and speculation, the Adani Group has stepped forward to clarify the true nature of Gautam Adani’s succession plan. The statement comes after a flurry of media reports that hinted at dramatic shifts in the group's leadership structure.

The confusion began with a Bloomberg report suggesting that Gautam Adani, 62, is preparing to step down at 70, intending to pass on his empire to his sons, Karan and Jeet, as well as his cousins, Pranav and Sagar. The report stated that these four heirs would become equal beneficiaries of the family trust, igniting speculation about the future of the conglomerate.

In response, Adani Enterprises has clarified that Gautam Adani's remarks about succession were misinterpreted. According to the statement issued to the exchanges, “Mr. Adani did not specify any date or point in time for the transition.” The company emphasised that Adani's comments were intended to outline a gradual and systematic approach to succession planning, rather than a concrete timeline.