Apollo Hospitals Group has set up a family council that will provide suitable guidelines for the organisation as the next generation is stepping into the family business. The company has appointed an outside advisor, who will join the group?s founder/patriach and chairman Pratap C Reddy, in defining the responsibilities for individuals apart from drawing blueprint for future growth prospects.
Speaking to the FE, Sangita Reddy, executive director, Apollo Hospitals, said: ?It is a concept and just in the formation stage. Like many other family group companies in India, Apollo, too, plans to hand over the responsibilities to the next generation, who are stepping into the group?s business activities, without diluting/impacting the group?s principles, ethics, good governance, trust, shareholders? value among others created over the last three decades.?
?With the entry of the third generation into the business, the council holds importance on how to take up the group further with focussed approach. The guidelines will be worked out in association with an outside advisor and will be announced in a few months time,? Reddy said.
Currently, the group business is run by four daughters of Pratap Reddy ? Preetha Reddy (managing director), Suneeta Reddy (joint MD and director, finance), Sangita Reddy (ED, operations) and Shobana Kamineni (ED, new initiatives). While a few of the third generation already coming into the family business in different roles, there are number of Pratap Reddy?s grandchildren waiting to take up responsibilities, sources said further.
