Wednesday, April 28, 2010

Lalit Modi will head family business

Putting to rest persistent reports about strained — even estranged — relations between himself and his son Lalit Modi, industrialist K K Modi sprang to his son's defence on Monday and declared that the 46-year-old would succeed him as head of the Rs 3,500-crore group's flagship company, Godfrey Phillips India (GPI), the makers of Marlboro, Four Square and Red & White cigarettes.

"Lalit is the seniormost member of the K K Modi family, he is meant to take over the business," the 73-year patriarch told TOI. Lalit is, at present, an executive director in GPI. Modi senior, however, did not have a date in mind for the succession.It's clear that K K Modi is putting his weight behind his son, who has dominated headlines for the past few weeks, mostly for the wrong reasons.

"Lalit is the most brilliant and intelligent member of the family and has created something no one has been able to do so far," he said referring to the IPL. "I only wish he had done it for the K K Modi group."

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