Ambani succession plan is likely underway. With Nita Ambani stepping down from the board of directors and making way for her children Isha, Akash, and Anant, Reliance entered a new era of leadership.
Isha Ambani, Akash Ambani, and Anant Ambani are set to be named non-executive directors of the oil-to-retail conglomerate, subject to shareholder approval. The recommendations were made during a board meeting held in advance of the company’s annual general meeting on Monday.
Reliance Industries Limited (RIL) is led by Mukesh Ambani.
The three Ambani scions have been closely involved with, and are leading and managing, key Reliance businesses such as retail, digital services, and energy and materials, according to a press release.
They also serve on the boards of Reliance’s key subsidiaries.
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Despite her resignation from the board of directors, Nita Ambani will continue to attend all board meetings as a permanent invitee so that the company can continue to benefit from her advice, according to the release.
“The Board of Directors also accepted the resignation of Nita Ambani from the Board respecting her decision to devote her energies and time to guide and enable Reliance Foundation to make an even greater impact for India,” it said.
Mukesh Ambani first mentioned his succession plan in 2021. He had even identified three distinct verticals for his three children, with his youngest son Anant taking on the new energy business.
His elder son Akash will take over the telecom and digital businesses, while his twin sister Isha will take over the retail business.
Mr. Ambani stepped down as chairman of Reliance Jio Infocomm Ltd. last year. He is still the chairman of Jio Platforms, which owns Reliance Jio Infocomm.
