Family Power: Adani Group adds women leaders by tapping founders' inner circle

Indian tycoon Gautam Adani is adding more women leaders to his ports-to-power conglomerate as part of a push to diversify its boardrooms — a transformation that’s seeing talent drafted from within the family.

At least two women with familial ties to the billionaire founder have taken on leadership roles at Adani Group companies in recent months, according to company communication and people familiar with the matter. Srushti Adani, wife of the billionaire’s nephew Sagar Adani, has been tasked with leading digital initiatives at Adani Digital Labs under the conglomerate’s airport unit, while daughter-in-law Diva Adani will be in charge of non-aero business strategies at Adani Airport Holdings Ltd.

Diva, who married Adani’s youngest son Jeet Adani earlier this year, will help shape a customer-centric approach to airport management, said the people, who asked not to be identified discussing internal company matters.

The appointments follow the group’s stated diversity, equity and inclusion approach, wherein it aims to have women directors make up at least a fifth of its board from 12.5% in the year ended March. Yet naming family members to leadership roles points to the continuing preference among Indian conglomerates to preserve control within the founding clan.

Expanding familial control in operations also risks sending conflicting messages to employees about meritocracy.

Before taking on the role at Adani, Diva, the daughter of Surat-based diamond merchant Jaimin Shah, worked with Adani’s charitable foundation on its disability program over the past year. Srushti, an engineering graduate from the University of California, founded and led medical equipment manufacturer Wellnest Tech.

An Adani Group representative declined to comment on the appointments.

Next generation

Adani’s fellow tycoon, Mukesh Ambani, is also grooming his children and their partners for succession at Reliance Industries Ltd. Daughter Isha Ambani is heading up Reliance’s retail arm — making her a prominent woman leader in the oil-to-telecom conglomerate alongside her mother Nita Ambani, who is the chairperson of the joint venture between Reliance and Walt Disney Co.

It’s not uncommon for wives and daughters of Indian tycoons to be named to leadership positions. In the past decade, Aditya Birla Group, Godrej Industries Ltd. and Piramal Enterprises Ltd. have all done so.

While men still dominate key roles, many large Indian family businesses including the Adani Group are redefining the role of women by involving them in key decision-making roles, said Kavil Ramachandran, a professor of entrepreneurship at the Indian School of Business.

This trend reflects the family’s “appreciation for their relevance and respect for their capabilities,” he said, while cautioning that it does carry the risk of pushing merit to the “back seat.”

It can make performance evaluation difficult, especially if the business is not showing expected results, Ramachandran said.

The Adani women also lead the group’s philanthropic initiatives. Namrata Adani, wife of the group founder’s nephew Pranav Adani, is involved with the Adani International School. She’s also currently serving as a non-executive director at Adani Group. Meanwhile, the group’s matriarch, Priti Adani, guides the Adani Foundation, which works in 7,060 villages across 21 states for social change.