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 groups business activities, without diluting/impacting the groups 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 Reddys grandchildren waiting to take up responsibilities, sources said further.