Reliance Appoints Ambani’s Children to Board
India’s Reliance Industries Ltd. has appointed the children of its chairman, Mukesh Ambani, to the company’s board of directors. The move comes after Ambani’s wife, Nita Ambani, stepped down from the board.
Reliance Industries is India’s largest private sector company and is owned by the Ambani family. The company has a market capitalization of over $200 billion and is involved in a variety of industries, including energy, petrochemicals, textiles, natural resources, retail, and telecommunications.
The company announced on August 28th that Mukesh Ambani’s two children, Akash and Isha, have been appointed to the board of directors. Akash and Isha are both in their twenties and have been involved in the company for several years. Akash is the executive director of Reliance Jio, the company’s telecommunications arm, while Isha is the executive director of Reliance Retail, the company’s retail arm.
The move comes after Nita Ambani stepped down from the board. Nita Ambani has been a member of the board since 2005 and has been an integral part of the company’s success. She has been involved in a variety of initiatives, including the company’s philanthropic efforts.
Ambani Family’s Growing Influence
The appointment of Akash and Isha to the board of directors is the latest move by the Ambani family to increase their influence in the company. In recent years, the family has taken a more active role in the company’s operations.
In 2018, Mukesh Ambani took over as chairman of the company, replacing his father, Dhirubhai Ambani. Since then, the family has been increasingly involved in the company’s operations.
In 2019, the family increased its stake in the company to over 50%. This gave the family control over the company and allowed them to make decisions without the approval of other shareholders.
The family has also been involved in a number of strategic investments. In 2020, the family invested in a number of technology companies, including Google, Facebook, and Microsoft.
The Future of Reliance Industries
The appointment of Akash and Isha to the board of directors is a sign of the family’s commitment to the company’s future. The two are expected to play an important role in the company’s operations and will likely be involved in strategic decisions.
The family’s increased involvement in the company is also likely to have a positive impact on the company’s performance. The family’s investments in technology companies have already had a positive impact on the company’s stock price.
The future of Reliance Industries looks bright. With the family’s increased involvement and strategic investments, the company is well-positioned to continue to be a leader in the Indian economy. The appointment of Akash and Isha to the board of directors is a sign of the family’s commitment to the company’s future and its continued success.