The Rs 11,000-crore KK Birla group has begun implementing the succession plan, which was decided during the lifetime of the late Birla.
Saroj Poddar, the son-in-law of KK Birla, said the succession was decided during Birla’s lifetime and certain changes introduced in the plan were in line with his plans.
Poddar will be at the helm of the Rs 4,027-crore Zuari Industries, Rs 3,285-crore Chambal Fertilisers and Rs 693.48-crore Texmaco. “I was the co-chairman in the companies, now I will be the chairman,” he said.
Similarly, Shobhana Bhartia, KK Birla’s youngest daughter, who is the vice-chairperson of the Rs 1,247-crore HT Media, will now be its chairperson, while Birla’s eldest daughter Nandini Nopany’s son, Chandra Shekhar Nopany, who id the vice-chairman of the Rs 796-crore textile company, Sutlej Industries, will be its.
Nandini Nopany is the chairperson of Upper Ganges Sugar & Industries, while Chandra Shekhar Nopany is the chairman and managing director of Oudh Sugar Mills and Jyotsna Poddar, one of Birla’s three daughters, is the chairperson and managing director of Gobind Sugar Mills.
They will continue to hold the same positions in the companies. The sugar companies have a combined turnover of around Rs 796 crore.
Nopany said India Steamship Company is a part of Chambal, but declined to comment further on the issue.
The Pilani-based Birla Institute of Technology & Science will go to Birla’s grand-nephew, Kumar Mangalam Birla (BK Birla’s grandson), said Poddar. He was nominated as the pro-chancellor of the institute about 18 months ago. KK Birla was the institute’s chancellor.