Apollo Hospital's family constitution to be finalised soon: Prathap C Reddy
The family constitution of Apollo Hospitals Group, which would elaborate on the roles of the promoter family members for the future, will be ready in a few weeks, Prathap C Reddy, executive chairman, Apollo Hospitals & Enterprises Ltd said.
"We have to get all the opinions and comments. We are hoping to close it in a few weeks' time," he said on the sidelines of the first Regional Management Conclave on leadership, organised by All India Management Association and Madras Management Association.
The healthcare group has been in the process of bringing in a family constitution, to ensure smooth succession of the management at a time when the promoter family is becoming larger. A preamble of the constitution has been signed by all the family members in the beginning of February, this year.
According to earlier reports, the chairmanship is expected to go to the four daughters of the founder Prathap C Reddy and each is expected to hold the position for around three years. Later, the position would be held by those who are eligible in the family or another individual depending on merit, reports suggested.
The founder has four children and ten grand children and many are already involved in the business activities related to the group.
Shobana Kamineni, a member of the founding family and the executive vice chairperson of Apollo Hospitals Enterprise Ltd, in March, 2017, told Buisiness Standard that the family would put their shares in a trust, mostly named after the founder (PCR), which would ensure that everyone votes together on the decisions for better stability of the company.