Jeh Wadia Rejoins Wadia Group Boards After Three-Year Hiatus
Jehangir (Jeh) Wadia, the younger son of group patriarch Nusli Wadia, has made a notable return to the boards of Wadia Group companies after a three-year hiatus during which he relocated to London. This decision follows discussions between Jehangir, 51, and his father, 81, in London, where they aimed to persuade him to return and utilize his expertise to support group operations, as well as to take on some of Nusli’s responsibilities, according to sources familiar with the matter.
Jehangir's departure from all Wadia boards in March 2021 made headlines, as he opted to settle in London with his family. At that time, it was suggested that the family sought to step back from executive roles as part of a strategic decision to enhance shareholder returns, while remaining involved as shareholders.
Nusli Wadia has led the group for nearly 60 years, and it appears he believes it is time to infuse younger entrepreneurial energy from within the family to collaborate with professional management. Jehangir's family continues to reside in London, but he is expected to spend significantly more time in India to lead the companies.
Industry executives have expressed optimism about Jehangir's return, highlighting his strategic thinking and analytical skills. He has been reappointed to a non-executive role in Britannia and is anticipated to take on the position of managing director at Bombay Dyeing. Previously, he served as managing director of GoAir until 2021, a company currently undergoing bankruptcy resolution.
Elder brother Ness, 53, holds the managing director position at Bombay Burmah and National Peroxide, and both he and Nusli are involved in the boards of all group companies, including the flagship consumer firm Britannia Industries. Nusli Wadia remains in overall charge of the group but pays particular attention to Britannia.
Advisors within the group have been advocating for Jehangir’s return to management to ensure business continuity and succession planning. The Wadia Group, one of India’s oldest conglomerates, has publicly traded companies with a combined market capitalization of Rs 1.38 lakh crore. Notably, two of these companies have been listed for over a century, with Bombay Dyeing declaring uninterrupted dividends for over 125 years and Bombay Burmah being the second company listed in India.
According to a 2023 Grant Thornton report, around 80% of Indian businesses are family-owned, yet only a fifth have a succession plan in place. The report illustrates the complexities of Indian family businesses, which often grapple with a blend of close-knit family dynamics and culturally imposed hierarchies, leading to diverse perspectives on succession planning.
The Wadia Group, which has a rich history in real estate, has contributed significantly to Mumbai’s Parsi community through the development of housing complexes from 1908 to 1956. In 2011, the group expanded its portfolio by launching Bombay Realty, focusing on the development of office spaces, hotels, residences, serviced apartments, and public spaces.