Mukesh Ambani makes succession clear to shareholders at Reliance AGM
Twenty years after being appointed chairman and managing director of Reliance Industries (RIL), Mukesh Ambani on Monday announced the family succession plan for his group when he listed the separate businesses his three children would lead.
Akash will head the digital business housed in Jio, his twin sister Isha the retail division. Their younger sibling Anant has joined the new energy business. Ambani said the siblings have inherited his father and RIL founder Dhirubhai Ambani’s mindset.
“They are first among equals in a young team of leaders and professionals already doing amazing things at Reliance. Of course, all of them are being mentored on a daily basis by our senior leaders, including the board of directors and myself,” he said at RIL’s annual general meeting (AGM).“Our next-generation (next-gen) leaders are confidently taking over the reins across businesses,” said Ambani.
“Akash and Isha have assumed leadership roles in Jio and retail, respectively. They have been passionately involved in our consumer businesses since inception. Anant has also joined our new energy business with great zeal. In fact, he is spending most of his time in Jamnagar,” he said.
Thirty-year-old Akash is a Brown University alumnus. Isha is a Yale University graduate. Twenty seven-year-old Anant has studied at Brown University.
Ambani appealed to youngsters from across the world to join Reliance. “Let me add here that Reliance is forever hungry for top-notch talent from India and around the world. We invite them with an assurance that they will enjoy the finest work environment in the world, so that they can develop their innate potential in an unconstrained way.”
“We already have professionals representing over 60 nationalities. This pool of young talent will become even larger and deeper as our businesses become bigger and more global. All our next-gen leaders are determined, focused, and brimming with fresh ideas and creativity. They think big, and they think fast. They have the courage to dream, as well as the ability to execute them. Above all, they have humility, empathy, and they care,” he said.
“When I see them, I see Dhirubhai Ambani’s pioneering spirit in action. Therefore, I feel supremely confident that tomorrow’s Reliance will have a better army of leaders, as should happen in any dynamic organisation that empowers its young leaders. Together, they will script newer and more exciting chapters in Reliance’s never-ending book of achievements,” said Ambani, while asking the shareholders to bless the next generation of leaders, including Isha, Akash, and Anant.
V K Vijayakumar, chief investment strategist at Geojit Financial Services, said a highlight of the AGM was Ambani’s emphasis on succession planning.
“He concluded his address by seeking everyone’s blessings for GenNext taking over the reins confidently. With Akash heading Jio, Isha retail, and Anant new energy, the plans are clearly spelt out,” observed Vijayakumar.