Next generation of Ambanis set to enter Reliance Industries' boardroom
Reliance Industries Ltd (RIL) chairman Mukesh Ambani said his three children — daughter Isha and sons Akash and Anant — will be inducted on the board as non-executive directors. He will continue as chairman and managing director for another five years, he announced at the RIL annual general meeting (AGM) on Monday.
Additionally, wife Nita Ambani resigned from the RIL board, making way for her children and to focus on the Reliance Foundation philanthropic arm, of which she's chairperson. She will continue to attend all the RIL board meetings as a permanent invitee.
The announcement comes a year after the billionaire chairman said his children would have significant roles in the businesses of India's most valuable private sector company.
«I am happy to report to you that earlier today, the board met and recommended the induction of Isha Ambani, Akash Ambani and Anant Ambani into the board of directors of RIL,» Mukesh Ambani said in his address to shareholders at the 46th AGM held virtually. «I can proudly say that they have earned their stripes through dedication, commitment, and hard work.»
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Calling it an emotional moment, Ambani added, «It reminds of that day in 1977, when my father inducted me into the board of directors of Reliance. I was only 20 then. Today, I see both my father and me in Isha, Akash, and Anant.»
His children already hold various directorships in the group's unlisted firms. Akash Ambani and twin sister Isha are directors of Reliance Jio Infocomm Ltd as well as Reliance Retail while the youngest sibling Anant is director of Reliance Jio, Reliance Retail as well as Reliance New
