Shriram regroups for the future with succession plan, business integration

Experts indicate that the succession plan allowing professionals to run the show will also help in this technology drive

Recently, a member from the family of one of the founders of the Shriram Group posted the Chennai-based financial conglomerate’s old vision: “Creating wealth, professionally managed.”

This month, the management of the group with revenue of over Rs 1 trillion stood by this vision by creating a durable succession management model and restructuring itself into a streamlined entity through the setting up of a new body via the merger and demerger of several businesses. Family members were always discouraged from joining the business. The downside of this, as critics have pointed out, is that there was no clear succession plan