BackSuccession planning: Apollo to set up family council
The council will be headed by Prathap C. Reddy, founder chairman of Apollo Hospitals
Premium(Priyanka Prashar/ Mint )
Chennai: As the third generation finds its footing in Apollo Hospitals Enterprise Ltd, the hospital chain is in the process of setting up a family council that will look at the current and future growth of the family-run business.
“Apollo has a clear family succession, but as the third generation enters the business, a family council is being worked out," said executive director Sangita Reddy on the sidelines of a function in Chennai.
The council will be headed by Prathap C. Reddy, founder-chairman, who has four daughters. Preetha Reddy, the eldest, heads and steers the group of hospitals. Suneeta Reddy started as the executive director (finance) with the hospital chain and is currently joint managing director.
Shobana Kamineni, the third daughter, looks after new initiatives of the hospital operator. Sangita Reddy oversees human resources and information technology.
The objective of the family council will be to record and document the best processes and systems for the new generation to follow. The council’s priority will be to continue the company’s commitment to patient care, maintaining the work culture of doctors, creating shareholders value and good governance.
Founder Prathap Reddy has 10 grandchildren and two of them have taken up roles at the company.
Kartik Reddy, the son of Preetha Reddy, who has completed his Master’s degree in finance, is involved in the hospital and is also part of the special initiatives group. Sindoori Reddy, the daughter of Sangita Reddy, is engaged in the transformation agenda.
“Too many family members are involved in operations of the hospital and with the advent of the third generation, a family council makes...sense to put in place a smooth succession (plan) for the younger generation," said a Mumbai-based analyst who tracks the hospital chain but did not want to be named. Apollo is also firming up a three-year transformation plan that will define the group’s growth strategies, Sangita Reddy said.
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