Godrej Industries Chairman Adi Godrej has resigned from the post. The command of the company will now fall in the hands of his brother Nadir Godrej. The company’s board in its meeting held on Friday accepted the resignation of Adi Godrej. Adi will continue with the company as the Honorary Chairman of Godrej Industries. He will also hold the post of chairman of Godrej Group.
Company’s MD Nadir became CMD
After resigning, Adi Godrej will continue as the chairman of Godrej Industries till the last day of September. After that, from October 1, his brother Nadir will take over as the chairman of the company. Nadir is currently the Managing Director (MD) of the company, who has become CMD after the resignation of Adi Godrej.
Adi said to the board members of the company – thank you
On stepping down as the Chairman of the company, Adi Godrej said, “It is a matter of privilege that I have got the opportunity to serve Godrej Industries for four decades. During this time the company has given very good results and has transformed itself. Apart from good advice from time to time, I am also thankful to the board members of the company for their full support.
‘Unmatched leadership gave shape to the company’
Adi Godrej also expressed his gratitude to the board, team members, customers, business partners, shareholders, investors. Nadir Godrej, the new Chairman, Godrej Industries, said, “On behalf of our team, I would like to thank the Chairman (Adi Godrej) who shaped the company with his vision, his best values and unmatched leadership.”.
Net profit jumps 101%, to 139 crores
Godrej Industries has released its June quarter results today. Its consolidated net profit jumped 101% to Rs 139 crore. It had a net profit of Rs 69 crore in the same quarter last year. The company has a total income of Rs 3,101 crore, which is 46% higher than Rs 2,119 crore in the previous June quarter.