Mukesh Ambani reveals succession plan, but says he isn’t retiring yet: Report

Reliance Industries Limited (RIL) chairman and managing director Mukesh Ambani on Monday laid out the succession plan for the company, divulging details about leadership roles given to his children- twins Akash and Isha and his youngest son Anant.”Akash and Isha have assumed leadership roles in Jio and Retail respectively. They have been passionately involved in our consumer businesses since inception,” Mukesh Ambani said during his address at the 45th Annual General Meeting (AGM) of Reliance Industries.”Anant has also joined our new energy business with great zeal. In fact, he is spending most of his time in Jamnagar,” Ambani added.Also Read| Reliance announces tieup with these tech giants to expedite 5G rollout in IndiaReliance has three broad businesses — oil refining and petrochemicals, retail, and digital services that include telecom, a report by news agency PTI said.The retail and digital services are housed in separate wholly-owned subsidiaries –Jio Platforms and Reliance Retail Ventures Ltd (RRVL).The oil-to-chemical business is a functional division of Reliance. The new energy business is also with the parent firm.Till now, only Akash Ambani has been made functional head of a company, while Isha and Anant are on board, PTI further reported.Also Read| Jio prepared world’s fastest 5G rollout plan, says Mukesh Ambani| Top quotesIn June, Akash was made the chairman of Reliance Jio Infocomm Ltd, which is a subsidiary of Jio Platforms.”All three (Akash, Isha and Anant) have fully inherited our founder’s (Dhirubhai’s) mindset. They are first among equals in a young team of leaders and professionals who are already doing amazing things at Reliance. Of course, all of them are being mentored on a daily basis by our senior leaders, including myself and the board of directors,” Mukesh Ambani said on Monday.However, Ambani insisted that he is not retiring yet and will continue to provide hands-on leadership as before.”He had first spoken of a succession plan at Reliance Family Day on December 28 last year. And in June 2021, during Reliance’s 44th AGM, Mukesh Ambani said that his children would find a prominent place in the family’s business empire.(With agency inputs)