Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) on Monday announced the induction of the third generation of the Ambani family as directors on the company’s board, viewed as the start of a succession.
Speaking at the company’s annual shareholders’ meeting, Mukesh Ambani told shareholders he would remain chairman and managing director (CMD) for five more years, and mentor the three to-be-appointed directors of the board.
Regarding its board, RIL announced two key developments: First, Isha, Akash and Anant Ambani’s appointments were approved by the board of directors in a meeting earlier in the day (this will be effective following the approval from the shareholders).
