127-year-old business empire of the Godrej Group is all set for a shareholding realignment
New Delhi:
The 127-year-old business empire of the Godrej Group is all set for a shareholding realignment. In the redistribution announced on Tuesday, the billion-dollar company will now be split between Adi and Nadir Godrej and their cousins Jamshyd Godrej and Smita Crishna Godrej.
While Adi and Nadir will lead Godrej Industries, Jamshyd and Smita will inherit Godrej & Boyce, along with its affiliates and substantial real estate assets, including prime property in Mumbai.
Who is Jamshyd Godrej?
1. Jamshyd Godrej, 75, is presently the Chairman and Managing Director of Godrej & Boyce, a flagship company within the Godrej Group, known for products ranging from consumer goods to engineering solutions.
2. He holds a degree in Mechanical Engineering from the Illinois Institute of Technology, US.
3. He has also served as the President of the World Wide Fund for Nature – India and holds chairmanship and directorship roles in organisations like the Shakti Sustainable Energy Foundation, World Resources Institute, and Asia Society.
4. He loves yachting and has explored the waters of the west coast of India, the Baltic & North Sea, the Atlantic Ocean, and the Mediterranean Sea.
5. He was awarded the Padma Bhushan, the third-highest civilian award in India, in 2003.
Who is Smita Crishna Godrej?
1. Smita Crishna Godrej, 74, is India’s third-richest woman, according to Forbes, with a substantial net worth of $3.8 billion.
2. She attended J B Petit School and pursued a Bachelor of Arts degree in History and Political Science from St. Xavier’s College in Mumbai. She also earned a Diploma in Communication Arts (Television Production) from Loyola College, (now Concordia University) in Montreal.
3. She is a member of the Godrej clan, holding a substantial 20% stake in the family assets. Her husband, Vijay Crishna, a renowned theatre actor, and her daughter, Nyrika Holkar, are also involved in the family’s business activities.
4. Smita Crishna Godrej is deeply engaged with the Udayachal Schools in Vikhroli, established in 1955 for the children of Godrej employees, including both workers and managers. These schools now educate over 2000 children, both girls and boys.
5. She also serves as a Trustee for the Soonabai Pirojsha Godrej Foundation, which conserves Mumbai’s mangrove belt. She is the Director at the Naoroji Godrej Centre for Plant Research. She also supports cultural and educational initiatives, including the Mehli Mehta Music Foundation and the Children’s Museum. She was honoured with the Extraordinary Leadership Award by Education World at their Education World Grand Jury Awards in 2016.
