India's Godrej family agrees to split conglomerate into two

FILE PHOTO: A Godrej Aerospace logo is pictured during a press conference outside the plant in Mumbai

BENGALURU (Reuters) - India's Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities, Godrej Enterprises and Godrej Industries, according to a filing late on Tuesday.

The realignment will be implemented after the relevant regulatory approvals have been obtained, after which the two companies will continue to use the Godrej brand, it added.

Godrej Enterprises Group (GEG) will be headed by 75-year-old Jamshyd Godrej as chairperson and managing director and his niece Nyrika Holkar as executive director.

GEG operates across aerospace, aviation, defence and liquid engines among others.

Jamshyd Godrej was earlier serving as managing director and chairman of Godrej & Boyce, the privately held company, founded in 1897.

Nadir Godrej, 73, will serve as chairperson of Godrej Industries Group (GIG), which operates via listed companies including Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences. GIG will be controlled by Nadir's brother Adi Godrej and their immediate family.

82-year-old Adi Godrej stepped down as chairman of Godrej Industries in August 2021, handing over the reign to his brother, Nadir Godrej.

Adi Godrej's son Pirojsha Godrej will be named chairperson of GIG, succeeding Nadir Godrej in August 2026.

(This story has been refiled to correct to 'agrees,' in the headline)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Eileen Soreng)