Reliance Sets Up Succession Plans? Ambani Children Appointed To Board

Reliance Industries Chairman Mukesh Ambani revealed major changes to the company’s board of directors at the firm’s 2023 annual general meeting (AGM), hinting at strategic moves aimed at clarifying the organisation’s structure for the future.

What Happened: Of the several significant management changes announced, Nita Ambani will step down from the RIL board. However, she will remain the chairperson of Reliance Foundation, underscoring her continued dedication to philanthropic endeavours.

Simultaneously, the AGM brought forth a significant generational shift within the company, with the appointment of the next generation of Ambanis to key positions on the board of directors.

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Isha Ambani, Akash Ambani and Anant Ambani have all been named as non-executive directors of the firm, indicating that the Ambani scions will play a more active role in the company’s activities.

A number of other significant announcements were made at the AGM, including the launch of Jio AirFibre and Jio Smart Home Services.

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Posted In: EquitiesWIIMMarketsAkash AmbaniAnant AmbaniIsha AmbaniMukesh AmbaniNita AmbaniReliance