Chairman and Managing Director of Reliance Industries Limited (RIL), Mukesh Ambani, presented the company’s succession plan on Monday, disclosing details of the leadership roles given to his children, twin boys Akash and Isha, and his father. youngest son Anant.
“Akash and Isha has taken on leadership roles in Jio and Retail respectively. They have been passionately involved in our consumer business since inception,” said Mukesh Ambani during his speech at the 45th Annual General Meeting (AGM) of Reliance Industries.
“Anant has also joined our new energy business with great zeal. In fact, he spends most of his time in Jamnagar,” Ambani added.
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Reliance has three main businesses – oil refining and petrochemicals, retail and digital services which include telecommunications, according to a report by news agency PTI.
Retail and digital services are housed in separate wholly-owned subsidiaries –Jio Platforms and Reliance Retail Ventures Ltd (RRVL).
The petroleum-chemical activity is a functional division of Reliance. The new energy company is also owned by the parent company.
So far, only Akash Ambani has been appointed functional head of a company, while Isha and Anant is on boardPTI further reported.
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In June, Akash was appointed chairman of Reliance Jio Infocomm Ltd, a subsidiary of Jio Platforms.
“All three (Akash, Isha and Anant) have fully inherited the mindset of our founder (Dhirubhai). They are first among equals in a young team of leaders and professionals who are already doing amazing things at Reliance Of course, all are mentored on a daily basis by our senior leadership, including myself and the board,” Mukesh Ambani said on Monday.
However, Ambani insisted he was not retiring yet and would continue to provide practical leadership as before.”
He first spoke about a succession plan at Reliance Family Day on Dec. 28. And in June 2021, at Reliance’s 44th Annual General Meeting, Mukesh Ambani said his children would find a special place in the family’s business empire.
(With contributions from the agency)