Reliance appoints Ambani’s children to board, wife resigns

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Reliance appoints Ambani's children to board, wife resigns

Reliance Industries said Monday it has appointed the three children of billionaire Mukesh Ambani — Isha Ambani, Akash Ambani and Anant Ambani — to its board, the latest in the succession plan at the country’s largest company, which operates the nation’s largest telecom operator and retail chain.

Nita, Ambani’s wife, has resigned from the board, said the $202 billion oil-to-retail giant in a statement, published on the local stock exchange.

The early signs of the succession planning has been apparent in recent years with 66-year-old Ambani promoting his children to lead many of the empire’s businesses. Akash leads the digital business, Jio Platforms, whereas his twin sister Isha helms Reliance Retail. Anant leads the new energy business.

“Isha Ambani, Akash Ambani and Anant Ambani have been closely involved with and are leading and managing key businesses of RIL over the last few years including retail, digital services and energy and materials businesses,” the company said in a statement.

“They also serve on the boards of the key subsidiaries of RIL. Their appointment to the Board of RIL will enable RIL to gain from their insights and infuse new ideas, the Board opined.”

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