Ambani Offspring Join Reliance Industries Board in Succession Plan

Mumbai: Asia’s wealthiest individual, Mukesh Ambani, has appointed his three children to the board of his conglomerate Reliance Industries. The move is seen as a step towards a smooth succession plan for the company.

Akash Ambani, 30, has been appointed chairman of Reliance Jio Infocomm Ltd, the conglomerate’s flagship mobile firm. Isha Ambani, 31, is designated for a role within Reliance’s retail division, while Anant Ambani, 27, is earmarked for the burgeoning new energy sector.

The siblings have been methodically groomed for leadership positions within Reliance’s three major units: oil to chemicals, telecommunications, and retail. While Akash and Isha have been instrumental in advancing the group’s modern businesses in retail and telecom, Anant has played a role in the renewable energy and oil and chemical sectors.

The appointment of the Ambani children to the board is a clear indication of Mukesh Ambani’s intention to eventually pass the reins of his conglomerate to the next generation. This is a departure from the past, particularly considering the public dispute between Mukesh and his younger brother, Anil Ambani, over control of Reliance Industries after their father’s demise in 2002.

In recent years, the Ambani brothers have shown signs of reconciliation. Mukesh assisted Anil in settling a significant financial obligation, and he has re-entered the telecom and financial sectors. The succession plan signifies Mukesh’s long-term vision for Reliance and the family’s commitment to furthering the legacy of their father, Dhirubhai Ambani, who founded the conglomerate in 1973.

The appointment of the Ambani children to the board is also a strategic move by Mukesh Ambani to pivot Reliance towards sustainable practices. As the conglomerate invests heavily in clean energy initiatives, profits from its digital and retail ventures are expected to fund this shift away from traditional hydrocarbons.

The move is likely to be welcomed by investors, who have been impressed by the Ambani children’s track record and their commitment to the company. It is also seen as a positive sign for the future of Reliance Industries, which is one of India’s largest and most respected conglomerates.