Reliance Industries has secured shareholder approval for the appointment of Isha Ambani, Akash Ambani and Anant Ambani as non-executive directors.
What Happened: According to a regulatory filing by RIL, these resolutions passed with a more than the required majority.
The appointments of Isha Ambani, Akash Ambani and Anant Ambani received approval from 98.21%, 98.06%, and 92.76% of the total votes polled, respectively.
This move represents a significant step in the leadership transition at Reliance Industries, where Isha, Akash, and Anant are being gradually promoted to head different businesses within the company.
Mukesh Ambani had previously hinted at this leadership transition in December 2021, expressing confidence that the next-generation leaders would guide Reliance Industries to even greater heights.
In July, Isha Ambani was named as a non-executive director on the board of Jio Financial Services.
Akash, the elder son of Mukesh Ambani, was appointed as the chairman of the board of directors of Reliance Jio Infocomm in July of the previous year. He is also a member of the board of Jio Platforms, where he spearheads the development of products and services utilizing new-age technologies like 5G, artificial intelligence, blockchain and the internet of things.
Anant, the youngest of the Ambani siblings, serves on the boards of Jio Platforms, Reliance Retail Ventures, Reliance New Energy, Reliance New Solar Energy and Reliance Foundation.
The company is also scheduled to release its results for the September quarter later today.
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