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Industrialist Adi Godrej will step down as chairman of Godrej Industries Ltd (GIL) after more than four decades at the helm, the Godrej group holding company said in statement. Godrej, 79, will also step down as a director of the company, with effect from 1 October.

Nadir Godrej, younger brother of Adi Godrej, and currently managing director of GIL, will take over as chairman and managing director on 1 October, Godrej Industries said in a regulatory filing on Friday.

Adi Godrej will continue to serve as chairman of the over 120-year-old Godrej Group and chairman emeritus of Godrej Industries.

Godrej Industries has interests in businesses spanning consumer goods, real estate, agriculture, home appliances, chemicals among others.

Adi Godrej served GIL for over four decades. “It has been a privilege to serve Godrej Industries for over four decades, during which we have delivered strong results and transformed our company," Adi Godrej said in a statement.

“I am grateful to our board for their support and guidance; to all our team members whose passion, commitment and hard work has driven our success; and to all our customers, business partners, shareholders, investors, and communities, for their continued partnership. I am very confident that our best years are ahead of us, and I look forward to Nadir and our team achieving our exciting aspirations," he said.

Nadir Godrej said, “On behalf of our team at Godrej Industries and our board, I want to thank our chairman for his vision, values and exceptional leadership that has guided and shaped our company. Our leadership team is committed to building forward on these foundations; continuing to serve our people and communities and creating long-term value for all our stakeholders."

On 4 August—Godrej Consumer Products Ltd (GCPL), the packaged consumer goods business of the group, announced that Adi Godrej will step down from the board of directors of GCPL effective 30 September. Godrej will remain chairman emeritus at the maker of Cinthol soaps and Goodknight mosquito repellents. In 2017, the Godrej Group had announced the elevation of Nisaba Godrej, Adi Godrej’s daughter, as the executive chairman of GCPL. Adi Godrej had then moved on to the role of chairman emeritus of the company.

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