Nisaba Godrej, a key figure in the Godrej Group, has resigned as an Independent Director of VIP Industries Ltd, effective June 3, 2024. This also means she will no longer serve on the company’s Nomination & Remuneration Committee.

VIP Industries, established in 1968, is a leading global manufacturer and retailer of luggage, backpacks, and handbags, with a strong presence in over 45 countries.

Nisaba Godrej is the Executive Chairperson of Godrej Consumer Products and has significantly influenced the company’s strategy over the past decade. She also chairs Teach for India and holds board positions at Godrej Agrovet, Bharti Airtel, and Mahindra and Mahindra. She has degrees from The Wharton School and Harvard Business School.

The Godrej family recently agreed to split their conglomerate into two entities: Godrej Enterprises and Godrej Industries. Adi and Nadir Godrej will lead the listed entities under Godrej Industries, while Jamshyd Godrej will control the unlisted companies and land bank under Godrej Enterprises. The settlement addressed issues of royalty, brand usage, and land bank development.

Harsh Goenka praised the family’s dignified handling of the split, noting the absence of controversy.

Godrej Industries Limited, founded in 1897, is a diversified holding company involved in consumer goods, agriculture, real estate, chemicals, and financial services. The group includes five listed firms, with Godrej Consumer Products being the largest, boasting a market capitalization of Rs 1.26 lakh crore as of April 30.

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