Nita Ambani, Ambani’s wife, is stepping down from the board of Reliance Industries Ltd, which has accepted the nominations of Isha, Akash, and Anant Ambani as non-executive directors.
Mukesh Ambani’s children, Isha, Akash, and Anant, were named to the board of Reliance Industries Ltd on Monday, paving the way for succession planning at India’s most valuable firm.
The business’s board of directors met ahead of its annual general meeting (AGM) to ratify the appointment of twins Isha and Akash, as well as Anant, as “non-executive directors of the company,” according to a stock exchange filing.
Last year, the 66-year-old tycoon made way for his first-born son, Akash Ambani, to become chairman of Reliance Jio Infocomm Ltd, India’s largest mobile carrier.
Ambani, on the other hand, remained the chairman of Jio Platforms, the company that owns Reliance Jio Infocomm.
Akash’s twin sister, Isha, 31, was chosen for Reliance’s retail branch, while Anant, the youngest sibling, was chosen for the new energy sector.
Nita Ambani, Ambani’s wife, is also stepping down from the company’s board of directors, according to the filing.
“Nita Ambani to step down from the board – to continue as chairperson of Reliance Foundation,” according to the filing.
Ambani said during the company’s 46th annual general meeting that Jio AirFiber will be available on September 19 of this year. He also stated that the firm is installing one 5G cell every 10 seconds and that the company would have over one million users by December of this year.
“Reliance added 260,000 direct jobs in India across all of its businesses last year,” Ambani added. It has a total workforce of 390,000 people.”
