MUMBAI: In a major move regarding succession planning for Reliance Industries Limited (RIL), the chairman of the country’s most valuable company announced the appointment of Isha Ambani, Akash Ambani, and Anant Ambani to the board of the conglomerate. Addressing the 46th AGM of RIL on Monday, Mukesh Ambani said his wife Nita Ambani has resigned from the board and will continue to be the chairperson of Reliance Foundation.
“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 Reliance Industries Limited. I can proudly say that they have earned their stripes through dedication, commitment, and hard work,” said Mukesh Ambani. “Teaming up with the other Directors, they will work as one team to provide leadership to the Reliance Group as a whole and guide the growth of all our diverse businesses with a holistic vision,” he added.
So far, Isha, Akash, and Anant were involved only at the operating business level and none were on the board. Their appointment will take effect from the date they assume office after approval by the shareholders.
Meanwhile, Mukesh Ambani will continue to perform his responsibilities as chairman and Managing Director for five more years.
“This is truly an emotional moment for me because it reminds me 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. I see the flame of Dhirubhai shine in all of them,” said Mukesh Ambani.
“They have fully internalized the Founder’s Mindset. They are fully committed to preserving and further enriching the Purpose, Philosophy, Passion, and Pioneering Spirit of Dhirubhai Ambani,” he added.