Jamshyd Godrej, sister planning family council; Crishna & daughters plan family office too

economictimes.indiatimes.com:

Godrej and Smita V Crishna are setting up a family council following the business realignment in April, said people with knowledge of the matter.

In addition to this, the Crishna branch will set up a family office comprising Smita Crishna and her daughters Freyan and Nyrika. Nyrika, who is executive director at Godrej & Boyce, will head this family office. Her sister is a non-executive director of Godrej & Boyce.

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Under the restructuring plan, the conglomerate was split into two — the Godrej Enterprises Group (GEG) going to siblings Jamshyd Godrej and Smita Crishna, and the Godrej Industries Group (GIG) to brothers Adi and Nadir. Neither group responded to ET’s queries.

GEG includes Godrej & Boyce and its affiliates. GIG includes listed companies such as Godrej Consumer Products, Godrej Properties, Godrej Industries, Godrej Agrovet and Astec Lifesciences. The latter side has set up a separate family office, headed by Pirojsha Godrej.
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It may not necessarily set up a family council, said the people cited above.
Following the division, the old family council had been dismantled.

“A huge family council is usually ineffective at arriving at any significant agreement, which is why the Godrej clan roped in external family advisors and legal experts,”