India: Gautam Adani, his son Karan Adani and his nephew Pranav Adani are all expected to join the boards of ACC and Ambuja Cement. Sources quoted by the Mint newspaper anticipated changes to the boards of both companies to start happening in mid-September 2022. At the same time, a number of existing board members of the subsidiaries of Switzerland-based Holcim are expected to resign. Adani Group’s US$10.5bn acquisition of the subsidiaries of Switzerland-based Holcim has been gathering pace, with the latter having completed its due diligence process and the mandatory open offers for the public shareholders finished.
Adani family members expected to join boards of ACC and Ambuja Cement
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