ABG Chairman KM Birla announces succession plan, expresses willingness to appoint children as Chairperson

Mumbai (India), 27th April 2023: Kumar Mangalam Birla, an industrialist, claimed on Wednesday that the reason he decided to reappear on the board of the faltering telco Vi is that he sees “hope” in the industry. Birla also commented on the topic of his succession and said that his daughter and son would soon become eligible and succeed him.

As a promoter, Birla said he wanted to show a “willingness” to move the company ahead by being named as a non-independent director on the board of the indebted Vodafone Idea or Vi.

Birla shining light upon his family business said that the Aditya Birla Group, worth USD 60 billion, will have a family member take over as chairman. He also noted that both his daughter Ananya and son Aryaman are “still learning the ropes” after entering the company a few years ago.

According to him, Aryaman played a little bit of cricket before starting his own firm, whereas Ananya, a successful musician, built the fourth-largest micro-lending company in the nation.

Further complementing his children he said, “They have made a name for themselves, they have great work ethic which is very important for us as a family…they are willing to work hard, willing to learn. I think they will earn their spurs as time goes on.”

Further justifying his decision he said that family members of the promoters benefit from “longevity and long-termism,” which is more challenging for some other professionals to bring to the table.