At the 45th AGM of Reliance Industries Ltd., chairman Mukesh Ambani laid out a clear roadmap that gives an idea of how the conglomerate will be divided among his children. He, however, insisted he isn’t retiring yet and will “continue to provide hands-on leadership to your company as before”.
At the annual shareholders’ meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains “a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines.”
Talking about succession, he said Akash and Isha Ambani have assumed leadership roles in Jio and Retail, respectively, while Anant has joined the New Energy business. They are part of a young team of leaders and professionals mentored by senior leaders, Mukesh Ambani outlined.
So far only Akash has been made functional head of a company, while the other two are on boards.
“All three have fully inherited our founder’s (Dhirubhai’s) mindset. They are first among equals in a young team of leaders and professionals who are already doing amazing things at Reliance. Of course, all of them are being mentored on a daily basis by our senior leaders, including myself and the board of directors,” he said.
In June, Akash was made the chairman of Reliance Jio Infocomm Ltd, a subsidiary of Jio Platforms. Jio Infocomm is the firm that holds telecom licences but Mukesh Ambani continues to be the chairman of Jio Platforms, the firm in which global technology giants like Google and Facebook owner Meta have invested.
At the AGM on Monday, Ambani introduced Isha as the leader of the retail business as he invited her to give a presentation on the integration of the e-commerce unit with WhatsApp and foray into FMCG (Fast Moving Consumer Goods).
Ambani said that his leadership team is empowering the next generation of leaders and they are being mentored at the senior level.
RIL Chairman further said, “Keeping this in mind, we will create a robust architecture for tomorrow’s Reliance to ensure that it remains a united, well-integrated and secure institution even as we develop our existing businesses and add new growth engines. This architecture will maximise the synergies among all our existing and new businesses.”
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