Mukesh Ambani wife Nita Ambani step down, 3 children’s enter Reliance board

Billionaire Mukesh Ambani childrens Isha, Akash, and Anant were appointed to the board of his energy-to-technology conglomerate, Reliance Industries Ltd (RIL), on Monday. Mukesh Ambani wife Nita Ambani step down, 3 children’s enter Reliance board.

This move is widely seen as a clear step in the direction of succession planning for India’s most valuable company. The board of Reliance convened prior to the company’s annual general meeting to officially ratify the appointments of Isha and Akash, along with Anant, as “non-executive directors of the company.”

This decision was communicated through a stock exchange filing made by the firm. The three Ambani scions have been closely involved with and are leading and managing key businesses of Reliance over the last few years including retail, digital services and energy and materials businesses, the company said in a press release.

They also serve on the boards of the key subsidiaries of Reliance. Though Nita Ambani has resigned from the board of directors, she will continue to attend all board meetings as a permanent invitee so that the company can continue to benefit from her advice, said 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 even greater impact for India,” it said. Mukesh Ambani had first spoken of his succession plan in 2021.

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He had even identified three separate verticals for his three children, with the new energy business going to his youngest son Anant. The telecom and digital business will go to his elder son Akash the retail business to twin sister Isha.