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.
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.
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