What was changed
On May 3, 2022, Prithvi Raj Singh 'Biki' Oberoi — 93 and chairman of EIH for two decades — relinquished his roles as executive chairman of EIH Ltd and chairman of EIH Associated Hotels. He handed the business his father M.S. Oberoi founded in 1934 to the next generation.
The structure split the top jobs: nephew Arjun Singh Oberoi, who had been managing director for development, became executive chairman, while PRS's son Vikramjit (Vikram) Oberoi continued as managing director and CEO. Business Standard described it as passing the baton to a 'winning combination'.
The handover came after COVID had hammered hotels worldwide and as the patriarch's health was failing. By stepping down in his lifetime, PRS gave the group a tested pair of leaders rather than a deathbed scramble; he died in November 2023, 18 months after the transition.
What it achieved
The lifetime handover kept EIH in family hands: a nephew took the chair and a son the CEO seat, ending a two-decade single-leader era as hotels recovered from COVID.
Why it worked
A nephew-chairman and son-CEO pairing balanced family branches in the third generation.
Stepping down in lifetime let the heir pair run the company before the patriarch died.
EIH's board approved the change with immediate effect, signalling unity.
What can be applied
The best succession is the one made in good time: PRS Oberoi passed the baton while alive, giving the third generation a chairman-CEO pairing instead of leaving a vacuum at death.
Aftermath
Arjun Oberoi and Vikram Oberoi ran EIH through the pandemic recovery as the group's 30-plus hotels returned toward full occupancy, and the Oberoi family retained control of the flagship listed company after PRS's death in November 2023.
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