Isha, Akash and Anant Ambani to join RIL board, Nita Ambani steps down
- With this, Ambani has taken another step towards handing the reins of Reliance Industries to the next generation.
Nita Ambanisteps down from RIL board, will continue to attend board meetings as chairperson of Reliance Foundation. Isha Ambani, Akash Ambaniand Anant Ambanihave been closely involved with and are leading and managing key businesses of RIL over the last few years including retail, digital services and energy and materials businesses.
The board of Reliance Industries has decided to appoint Mukesh Ambani’s three children – Isha, Akash and Anant – on the board of India’s most valuable company. With this, Ambani has taken another step towards handing the reins of Reliance Industries to the next generation. Under the leadership of Mukesh Ambani Reliance Industries has undoubtedly touched new heights, but the company’s succession plan is not just on paper. Unlike many patriarchs who refuse to step down, Ambani is gradually rolling out the succession plan so that the transition is smooth. Ambani has been given another five years as the boss of Reliance, but that has not stopped him from ensuring the continuity in leadership.
After putting his children in the driving seat of RIL’s three verticals – retail, Jio and O2C verticals – Isha Ambani, Akash Ambani and Anant Ambani are now joining the board of RIL as non-executive directors of the company. Their appointment will take effect from the date they assume office after approval by the shareholders. Nita Ambani has resigned from the board and will step down, following this new development.
Last year, Mukesh Ambani had laid out the company’s succession plan for the benefit of investors. At last year’s AGM he had said: “Akash and Isha have assumed leadership roles in Jio and retail respectively. They have been passionately involved in our consumer businesses since inception. Anant has joined the new energy business with great zeal. In fact, he is spending most of his time in Jamnagar.”
The Board of Directors also accepted the resignation of Nita Ambani from the Board respecting her decision to devote her energies and time to guide and enable Reliance
Foundation to make even greater impact for India. The Board of Directors appreciated Nita Ambani for her leadership of Reliance Foundation as its Founder Chairperson. Over the years, RF has made considerable progress in its mission of nurturing and empowering marginalised and under-resourced communities in India.
As the Chairperson of Reliance Foundation, Nita Ambani will attend all the RIL Board meetings as a permanent invitee to the Board so that the Company can continue to benefit from her advice.
Isha Ambani, Akash Ambani and Anant Ambani have been closely involved with and are leading and managing key businesses of RIL over the last few years including retail, digital services and energy and materials businesses. They also serve on the boards of the key subsidiaries of RIL. Their appointment to the Board of RIL will enable RIL to gain from their insights and infuse new ideas, the Board opined.
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