Mukesh appoints Akash, Anant & Isha on RIL board, Nita steps down

Asia's richest man Mukesh Ambani began executing a succession plan for his USD 200-billion energy-to-technology conglomerate Reliance Industries, appointing his three children Isha, Akash, and Anant to the board of the company which he will continue to chair for five more years.Till now, the three children were involved only at operating business-level and none were on the board of the India's largest listed company.The board of Reliance met ahead of the company's annual general meeting to approve the appointment of twins Isha and Akash as well as Anant, as the "non-executive directors of the company," the firm said in a stock exchange filing on Monday.Mukesh Ambani is the chairman of Reliance Industries Limited (RIL).
Though Nita Ambani has resigned from the board of directors, she will continue to attend all board meetings as a permanent invitee so that the company can continue to benefit from her advice, said the release."The Board of Directors also accepted the resignation of Nita Ambani from the Board respecting her decision to devote her energies and time to guide and enable Reliance Foundation to make even greater impact for India," it said.Mukesh Ambani made way for Akash to become the chairman of Reliance Jio Infocomm Ltd. However, he still remains the chairman of Jio Platforms, which holds Reliance Jio Infocomm.Jio Infocomm is a subsidiary of Jio Platforms, in which Meta and Google hold stakes and is still chaired by Mukesh. Reliance Industries Ltd is the parent of Jio Platforms.