Ambani siblings on board: Why India Inc needs more young people at the top

economictimes.indiatimes.com:

Reliance Industries have approved appointment of Chairman Mukesh Ambani's son Anant Ambani, along with his elder siblings Akash and Isha, as non-executive directors on the company board. At 28 years of age, Anant, three years younger than his two siblings, was seen as too young for the role. Institutional Shareholder Services Inc., an international proxy advisory firm, and Mumbai-based Institutional Investor Advisory Services had recommended that shareholders vote against the proposal of Anant Ambani's appointment on the board.

Reliance had told the proxy companies that Anant has “the relevant experience and maturity to add value to the board deliberations” given his participation in the conglomerate’s businesses and the grooming he has received from senior leadership over the years.

What does it mean to be on the company board?

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A position on a company board does demand a lot of maturity and wisdom. According to the Ministry of Corporate Affairs, «The Board of Directors has to exercise strategic oversight over business operations while directly measuring and rewarding management’s performance. Simultaneously the Board has to ensure compliance with the legal framework, integrity of financial accounting and reporting systems and credibility in the eyes of the stakeholders through proper and timely disclosures.» That's a tall task for a board member and indeed requires much wisdom and experience.

«There is no across-the-board reluctance to get younger members,» former