- RIL Board recommends the appointment of Isha Ambani, Akash Ambani, and Anant Ambani on the Board of Directors.
- Isha Ambani, Akash Ambani, and Anant Ambani will act as Non-Executive Directors of the Company.
- Reliance ushered in a new era of leadership
- Nita Ambani stepping down from the board of directors and making way for her children
- Mukesh Ambani is the chairman of Reliance Industries Limited (RIL).
Isha Ambani, Akash Ambani, and Anant Ambani are set to be appointed non-executive directors of the oil-to-retail conglomerate, pending approval by its shareholders. RIL Board recommends the appointment of Isha Ambani, Akash Ambani, and Anant Ambani on the Board of Directors.
The Board of Directors of RIL, on the recommendation of the Human Resources, Nomination, and Remuneration Committee, considered and recommended to the shareholders for approval of the appointment of Isha Ambani, Akash Ambani, and Anant Ambani as Non-Executive Directors of the Company. Their appointment will take effect from the date they assume office after approval by the shareholders.
The Board of Directors also accepted the resignation of Nita Ambani from the Board respecting her decision to devote her energies and time to guiding and enabling Reliance Foundation (RF) to make an even greater impact on India. The Board of Directors appreciated Nita Ambani for her leadership of Reliance Foundation as its Founder and Chairperson.
Over the years, RF has made considerable progress in its mission of nurturing and empowering marginalized and under-resourced communities in India. They lauded Nita Ambani’s request to focus even more on strengthening Reliance Foundation as it embarks on a mission to achieve even greater societal transformation by undertaking a host of new programmes and initiatives.
As the Chairperson of Reliance Foundation, Nita Ambani will attend all the RIL Board meetings as a permanent invitee to the Board so that the Company can continue to benefit from her advice.
Isha Ambani, Akash Ambani, and Anant Ambani have been closely involved with and are leading and managing key businesses of RIL over the last few years including retail, digital services, and energy and materials businesses. They also serve on the boards of the key subsidiaries of RIL. Their appointment to the Board of RIL will enable RIL to gain from their insights and infuse new ideas, the Board opined.
Reliance is India’s largest private sector company, with a consolidated revenue of INR 9,74,864 crore (US$118.6 billion), cash profit of INR 1,25,951 crore (US$ 15.3 billion), and net profit of INR 73,670 crore (US$9.0 billion) for the year ended March 31, 2023. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.
(With inputs from agencies)
