homebusiness Newscompanies NewsReliance Industries shareholders approve appointment of Isha, Akash and Anant Ambani to the board
Reliance Industries shareholders approve appointment of Isha, Akash and Anant Ambani to the board
Anant Ambani's appointment as non-executive Director was approved with 92.75% votes in favour of the resolution.
Reliance Industries has formalised the succession plan announced at its Annual General Meeting earlier this year. Shareholders have approved the appointment of new generation leaders - Isha, Akash and Anant Ambani on the company's board as Non-Executive Directors.
Shareholders of Reliance Industries approved the appointment of Isha Ambani to the company's board with 98.21% votes cast in its favour, while Akash Ambani's nomination garnered 98.06% of the vote.
Anant Ambani's appointment to the company's board received 92.75% votes in favour.
In other changes at the company's board, Nita Ambani will step down as announced during the AGM. She will continue to remain the Chairperson of the Reliance Foundation. As Chairperson, she will continue to attend Reliance Industries' board meetings as a permanent invitee on all meetings.
Chairman & Managing Director Mukesh Ambani will continue at the help for another five years, as he had announced during the AGM.
The succession plan at Reliance Industries has been in the works for the last few years with all three new generation leaders taking on important roles within the conglomerate.
Isha Ambani was appointed the leader of Reliance Retail in August 2022, while Akash Ambani became Chairman of Reliance Jio in June last year. Anant Ambani was appointed as the leader of the company's energy vertical in August 2022.
Reliance Industries shares are trading 1.6% higher at Rs 2,264 ahead of its September quarter earnings announcement later today.
(Edited by : Hormaz Fatakia)
First Published: Oct 27, 2023 11:51 AM IST
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