Billionaire Mukesh Ambani’s Reliance Industries NSE -0.53 % Ltd on Wednesday defended the appointment of Saudi Aramco Chairman Yasir Al-Rumayyan on the company board, saying all regulatory criteria for his appointment as an independent director were met, pending shareholder approval on the decision. The California State Teachers’ Retirement System (CalSTRS), a shareholder of Reliance, had last week decided to vote against the move based on US proxy advisory research firm Glass Lewis’ recommendation.
