Mukesh Ambani’s succession plan, wife Nita exits RIL Board, 3 children appointed

NEW DELHI,AUG 28 : Billionaire Mukesh Ambani’s children—Isha, Akash, and Anant—were appointed to the board of his energy-to-technology conglomerate, Reliance Industries Ltd (RIL), on Monday. This move is widely seen as a clear step in the direction of succession planning for India’s most valuable company.

The board of Reliance convened prior to the company’s annual general meeting to officially ratify the appointments of Isha and Akash, along with Anant, as “non-executive directors of the company.” This decision was communicated through a stock exchange filing made by the firm.

Nita Ambani stepped down from the Board of Directors. However, as the Chairperson of Reliance Foundation, she will attend all the RIL Board meetings as a permanent invitee to the Board.

Last year, the 66-year-old tycoon had paved the way for his first-born, Akash Ambani, to assume the role of chairman at India’s largest mobile company, Reliance Jio Infocomm Ltd. Despite this, Ambani retained his position as the chairman of Jio Platforms, the entity that holds Reliance Jio Infocomm.

Akash’s counterpart and twin sister, Isha, aged 31, was chosen to oversee Reliance’s retail arm, while the youngest of the siblings, Anant, was assigned responsibilities within the new energy business sector.

-PTI