Mukesh Ambani and Nita Ambani's son Anant Ambani appointed as Executive Director of..., ahead of Isha Ambani, Akash Ambani, will hold position till...
Mukesh Ambani and Nita Ambani's son Anant Ambani appointed as Executive Director of..., ahead of Isha Ambani, Akash Ambani, will hold position till...
Mumbai: In a major decision, the Board of Directors of Reliance Industries Ltd has appointed Mukesh Ambani's younger son Anant Ambani as Executive Director of India's largest conglomerate on Friday. Anant will serve as the Executive Director of the company for five years, starting from May 1, 2025. The move comes as part of the Ambani family's succession planning. Notably, Anant Ambani was a Non-Executive Director in the company and will now take on executive responsibilities.
Anant is part of the team focusing on Reliance's energy and sustainability. The company aims to become a net-zero carbon company in the next 10 years. The plan involves increasing the production of sustainable fuels and materials, creating advanced carbon capture methods, fostering a circular economy for materials, and improving the efficiency of converting crude oil into chemicals.
Anant Ambani has been on the Board of Jio Platforms Limited since March 2020, Reliance New Energy Limited and Reliance New Solar Energy Limited since June 2021, and Reliance Retail Ventures Limited since 2022. He has also been on the board of Reliance Foundation since September 2022.
Notably, Anant is the first child, among Ambani siblings, to be appointed as the Executive Director.
Since 2022, Akash Ambani has served as chairman of Reliance's Jio Infocomm telecom division. His twin sister, Isha Ambani Piramal, concurrently heads Reliance's retail operations.
Institutional Investor Advisory Services (IiAS) recommended against Anant Ambani's 2023 appointment to the Reliance Industries board, citing his age (28) as conflicting with their internal voting policies. This recommendation contrasted with the Reliance board's expressed confidence in Ambani's leadership.
Additionally, US-based Institutional Shareholder Services has raised concerns about Anant Ambani's board and leadership experience, which spans just six years, Bloomberg reported.
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