BENGALURU, May 1 Reuters India39;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 75yearold 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 Nadir39;s brother Adi Godrej and their immediate family. 

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

Adi Godrej39;s son Pirojsha Godrej will be named chairperson of GIG, succeeding Nadir Godrej in August 2026.

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

Source Reuters