Succession near done; siblings are 3 bodies, one soul: Ambani

The handover of the day-to-day operations of Reliance Industries Ltd to the third generation of the founding Ambani family is almost complete, chairman Mukesh Ambani said at the company’s 49th annual general meeting (AGM).

- Nehal Chaliawala

Ambani’s three children—Isha (34), Akash (34) and Anant (31)—who have been on the Reliance Industries board for three years now, will look after the company’s consumer, technology and energy businesses respectively, he said.

Ambani, 69, said the next generation of promoters have the same “founder’s mindset” that he had when he took over 25 years ago. They will also have his guidance and mentorship as well as that of the company’s other directors, he said, allaying potential shareholder concerns over the transition. Moreover, the company has trained around 500 leaders in their 30s and 40s to assist the next generation, he added.

“Even as I continue to provide hands-on leadership, the generational transfer of day-to-day management at Reliance is almost complete,” Ambani said in his address.

Although carefully scripted, investors keenly follow the Reliance chairperson’s AGM speech, as it is one of the rare occasions where he directly speaks to shareholders on camera.