Trust in the future – in the hands of Akash, Isha and Anant

• Akash Ambania was appointed chairman of the Trust Jio on board after Mukesh Ambanic stepped out of the role.
• Isha Ambani, Akash’s twin brother, will lead the retail business, he announced at the AGM.
• Anant Ambani, the youngest of Ambani’s siblings, will lead the new energy business.
• Mukesh Ambani will continue to lead RIL hands-on as before.
• Mukesh Ambani also urged shareholders to rate him and his leadership team on their performance.

Reliance Industries’ (RIL) chairman Mukesh Ambani today announced a succession plan for the company, nearly two months after son Akash Ambani was named chairman of to trust jio.

Isha Ambani, Akash’s twin brother, will lead the retail business while Anant Ambani, his youngest son, will lead the new energy company to be located in Jamnagar, Gujarat.

“All three have the mindset of the founder (Dhirubhai Ambani),” said Mukesh Ambani, 65, at his company’s 45th Annual General Meeting (AGM) today.

Mukesh Ambani called them the Young Leaders of Reliance and sought the blessings of the shareholders for them. “They are part of a young team of leaders and professionals who are already doing great things at Reliance. They are all guided on a daily basis by the senior leaders of RIL, including the chairman and the board of directors,” he said.

The company is building a fully integrated ecosystem for new energy production in Jamnagar. “Anant actually spends most of his time in Jamnagar,” said the senior Ambani.

Mukesh Ambani also urged shareholders to rate him and his leadership team on their performance.

‘Will make the company robust, resilient, purposeful and truly future-proof’

Even as Mukesh Ambani continues to bring hands-on leadership to RIL as before, he said he will be committed to making the company more robust, resilient, focused and truly future-proof.

A succession plan at the Reliance group was one of the most anticipated announcements from the AGM, along with a timeline of the demerger and public issuance of telecom and retail companies. While no timeline for fund-raising plans was announced, however, today’s announcement is a step forward.

A graduate of Brown University, Akash Ambani has been part of multiple announcements from Jio, including the launch of operations in 2016. He is also known to have played a role in closing a deal with Facebook, now called Meta, in 2020.

Trained at Stanford, Isha Ambani, like her twin brother, has been part of many retail announcements over the years, including the partnership with WhatsApp c AGM. She also announced the launch of an FMCG business this year.

Isha and Akash sit on the boards of directors of the retail and telecom companies, while Anant is director of the group’s solar energy business.

Isha is believed to have been the mastermind behind the signing of many branded retail partnerships over the years and also helped launch his lifestyle portal, Ajio.

In 2005, the former Reliance IndustriesFounded by Dhirubhai Ambani, it was split between brothers Mukesh and Anil Ambani, with the former retaining the right to use the company’s name. However, even before the split, cracks had formed, culminating in a long and public battle that brought the companies to court.

Reliance Industries founder Dhirubhai Ambani died in 2002, leaving a will.

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