Godrej Family Announces Realignment Of Their Shareholding In Godrej Companies

Mumbai, April 30, 2024: The Godrej family on Tuesday announced an ownership realignment of their shareholdings in the Godrej Companies. The realignment has been arrived at in a respectful and

mindful way to maintain harmony and to better align ownership in acknowledgement of the differing visions of the Godrej family members. This will help maximize strategic direction, focus, agility, and will accelerate the process of creating long-term value for shareholders and all other stakeholders, says a press release issued by the company.

The realignment will be implemented after the relevant regulatory approvals have been obtained. Godrej Enterprises Group (GEG) comprises of Godrej & Boyce (G&B) and its affiliates, which have presence across multiple industries spanning Aerospace, Aviation, Defence, Engines and Motors, Energy, Security, Building Materials, Construction, Green Building Consulting, EPC Services, Intralogistics, Healthcare Equipment, Durables, Furniture, Interior Design, Architectural Fittings, IT, Software as well as Infrastructure Solutions. This group will now be controlled by Jamshyd Godrej, Chairperson and Managing Director, Nyrika Holkar, Executive Director, and their immediate families.

Godrej Industries Group (GIG), which includes the listed companies, Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences will have Nadir Godrej as Chairperson and will be controlled by Adi Godrej, Nadir Godrej, and their immediate families.

Pirojsha Godrej will be the Executive Vice Chairperson of GIG and will succeed Nadir Godrej as the Chairperson in August 2026. Commenting on the future outlook, Jamshyd Godrej said: “Since 1897, Godrej & Boyce has always been driven by the strong purpose of nation building. With this future-facing family agreement now in place, we can further drive our growth aspirations with fewer complexities and focus on leveraging ourcore strengths in high tech engineering and design-led innovation across our strong portfolio of strategic, consumer and emerging businesses.”

Nadir Godrej said “Godrej was founded in 1897 to help build economic independence for India. This deep purpose of innovating for a cause – the values of trust and respect and the belief in trusteeship and making communities that the companies operate in stronger and better – continue to form the bedrock of who we are 125 years later. We look forward to building on this legacy with focus and agility.”

Both Groups will continue to use the Godrej brand and are committed to growing and strengthening their shared heritage. The family members wish each other every success for the future.