'Guess only parsis know how to do it right...': Ronnie Screwvala on Godrej succession plan
‘Guess only parsis know how to do it right…’: Ronnie Screwvala on Godrej succession plan
Ronnie Screwvala, entrepreneur, investor and film producer hailed the the amicable arrangement at one of India’s oldest business houses keeping in mind the interest of future generations and preserving the brand.
“Guess (only) The Parsis know how to do this right – low profile – respectful of each other – and win win for all,” Screwvala posted on X (formally Twitter) while sharing the photo of the Godrej spilt.
Users agreed with his viewpoint and many highlighted the gracious and quiet process behind the split.
“So true, executed the division so graciously,” wrote a user.
A user also highlighted the bitter fallout between Cyrus Mistry and the Tata Group.
The realignment of shareholding within the Godrej Group has now led to Adi Godrej and his younger brother Nadir getting the newly-formed Godrej Industries Group. Under this will be housed five listed companies – Godrej Industries, Godrej Properties, Godrej Consumer Products, Godrej Agrovet and Astec Lifesciences. Nadir Godrej will be the Chairperson.
The other set of businesses will come under Godrej Enterprises Group, which will have the unlisted Godrej & Boyce, its affiliates and a vast land bank in central Mumbai. That has gone to Jamshed Godrej and Smita Godrej Crishna, both cousins of Adi and Nadir Godrej. While Jamshyd Godrej will be the Chairperson, Nyrika Holkar, his niece and Smita Godrej’s daughter will be the Executive Director.
A disclosure made to the stock exchanges on April 30 outlined the details on both a family settlement agreement and a brand and non-compete agreement. “The third and fourth generations of the family branches have diverse interests, and varying perceptions as to, among others, the strategic direction, growth and governance of the Godrej Group entities. The family branches are desirous of ensuring harmony in the future amongst the succeeding generations of the Godrej family,” it stated.
Ashish Kumar Singh, Managing Partner at law firm Capstone Legal, the strength of the Godrej brand is key and how it is used across diverse businesses. Specifically, the family settlement agreement, he says is a good example of how family businesses can address issues amicably without any bad blood.
While Nadir Godrej will be the Chairperson of Godrej Industries Group (GIG), the statement said that Pirojsha Godrej, Adi Godrej’s son and current Executive Chairperson, Godrej Properties, will take charge as GIG’s Executive Vice Chairperson of GIG from Nadir Godrej in August 2026.
Watch Live TV in English
Watch Live TV in Hindi