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Home Corporate Governance

Mukesh Ambani’s Progeny Secure Position in Reliance Board

The induction of Isha, Akash, and Anant Ambani onto the Reliance Industries Limited board of directors marks a significant milestone in the company's leadership transition.

India CSR by India CSR
October 27, 2023
in Corporate Governance
Reading Time: 2 mins read
Mukesh Ambani’s Progeny Secure Position in Reliance Board
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Shareholders give the green light for Isha, Akash, and Anant Ambani to join the Reliance Industries Limited board of directors.

MUMBAI (India CSR): In a significant move, Mukesh Ambani’s children, Isha, Akash, and Anant, have been officially inducted into the board of directors of Reliance Industries Limited (RIL), following a majority approval from the company’s shareholders. The announcement was made on Friday, October 27, 2023, marking a new chapter in the leadership of the conglomerate.

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Close Involvement with Key Businesses

Over the past few years, the three Ambani siblings have played pivotal roles in leading and managing vital segments of Reliance’s vast empire. Their areas of focus have spanned across the retail, digital services, and energy and materials sectors. This induction is a formal recognition of their contributions and involvement in the company.

With the backing of the shareholders, the Ambani siblings are set to significantly influence Reliance’s future success, leveraging their extensive experience in the company’s main sectors.

Mukesh Ambani: A Compensation Structure

Unlike other board members, Mukesh Ambani’s children will not receive a salary for their roles as directors. Their compensation will solely come from fees associated with attending board and committee meetings. This decision aligns with Mukesh Ambani’s own compensation structure, as he has not received any salary from Reliance since the fiscal year 2020-21.

Shareholders’ Vote of Confidence

The shareholders of Reliance Industries Limited showed strong support for the new board members. Isha and Akash Ambani both secured over 98% of the shareholders’ votes, while Anant Ambani received 92.75% approval. This overwhelming support underscores the shareholders’ trust in the Ambani children to uphold and advance the company’s interests.

***

(India CSR)


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Tags: Mukesh AmbaniReliance Industries
India CSR

India CSR

India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

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