After being at the helm of Godrej Consumer Products Ltd (GCPL) for 17 years, 75-year-old Adi Godrej has decided to make way for the next generation, passing the baton to his younger daughter, Nisaba Godrej.

As part of a succession plan, 39-year-old Nisaba has been elevated to the position of Executive Chairperson of GCPL, the flagship company of the Godrej Group.

Adi Godrej will assume the role of Chairman Emeritus at GCPL. Having served on the company’s board since 2011, Nisaba had been groomed to take up a key role in GCPL’s strategy planning. She was responsible for ‘Project Leapfrog’ in 2007, which set GCPL on a path of accelerated organic growth through innovation and its attempt to go global in emerging markets such as Africa, Indonesia and Latin America.

Since she came on board, GCPL’s market capitalisation has increased from ₹3,000 crore to ₹60,000 crore. A graduate from Wharton School at the University of Pennsylvania, and an MBA from Harvard Business School, Nisaba’s other achievements include turning around group companies, including Godrej Agrovet.

Commenting on her elevation, Nisaba said that the values instilled by her father, combined with his discipline, result-driven and humble approach would always be at the company’s core.

In a statement, Adi Godrej, Chairman, Godrej Group, said: “I am grateful to our Board for their thoughtful and planned approach to executing our succession plan. The foundations of GCPL are extremely strong. This is an opportune time to transition to a new Chairperson, who will lead the company in its next phase of growth.”

“Over the last decade, I have worked closely with her and seen her deliver tremendous results. She is an inspiring leader who will always uphold our values. I will continue to serve the GCPL Board and contribute in whatever way I can to GCPL’s success and long-term growth,” Adi Godrej added.

In the fiscal year ended March 31, 2017, GCPL reported ₹9,608.08 crore in total income from operations. against ₹8,753.06 crore in 2015-16.

Her elder sister, Tanya Dubash, will continue to be Executive Director and Chief Brand Officer of the Godrej Group. Younger brother Pirojsha Godrej was recently appointed Executive Chairman of Godrej Properties.

comment COMMENT NOW