The board of directors of Reliance Industries Limited (RIL), at its 46th Annual General Meeting held on Monday, approved of the appointment of Isha Ambani, Akash Ambani, and Anant Ambani as Non-Executive Directors of the company.
As per a company statement, this decision was made after the recommendation of the Human Resources, Nomination and Remuneration Committee and the appointments will take effect from the date the three assume office after approval by the shareholders.
“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. They also serve on the boards of the key subsidiaries of RIL,” a press release said.
The board further expressed its confidence that the appointment of Isha, Akash and Anant will enable RIL to gain from “their insights and infuse new ideas.”
Meanwhile, the board of directors also accepted the resignation of Nita Ambani, Founder-Chairperson of Reliance Foundation, from the board. Nita has decided to devote her time and energy to Reliance Foundation. Started in 2010, Reliance Foundation provides impetus to various philanthropic initiatives of the Reliance group.
'An emotional moment'
RIL Chairman Mukesh Ambani described his children's elevation as board members as an "emotional moment" and added that next-generation leaders, have fully immersed themselves in every aspect of the group.
"This is truly an emotional moment for me because it reminds me of that day in 1977 when my father inducted me into the Board of Directors of Reliance. I was only 20 then. Today I see both my father and myself in Isha, Akash, and Anant. I see the flame of Dhirubhai shine in all of them."
"Over the past few years, Isha, Akash and Anant, as first among equals of our next-generation leaders, have fully immersed themselves in every aspect of Reliance. They have been working with our senior leaders in some of the most
exciting projects in consumer businesses, digital enterprises, O2C, and Green Energy and Green Materials."
He also expressed confidence that Akash, Anant and Isha will team up with the other directors to work as one single team to provide leadership to the Reliance Group.
Meanwhile, Mukesh Ambani will continue to perform his responsibilities as Chairman and Managing Director for five more years.
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First Published: Aug 28, 2023 2:33 PM IST
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