MY KOLKATA EDUGRAPH
ADVERTISEMENT
regular-article-logo Wednesday, 17 July 2024

Greater role for scions

‘Akash and Isha have assumed leadership roles in Jio and Retail respectively’

Our Special Correspondent Mumbai Published 30.08.22, 01:34 AM
Akash, Anant and Isha

Akash, Anant and Isha Sourced by The Telegraph

There were no big-bang announcements, but Mukesh Ambani did etch out the outlines of his succession plan at the AGM. He said twins Akash and Isha Ambani will lead the digital and retail businesses, respectively, while youngest son Anant will look at the new energy segment. In June this year, Akash Ambani was elevated to the post of executive chairman at Reliance Jio Infocomm (RJIL).

Ahead of Monday’s AGM, there were expectations that Isha who is a director in Reliance Retail Ventures Ltd (RRVL), the holding company of Reliance Retail, will be elevated to the same post. Investors were keen to know whether Anant Ambani will be given more responsibilities in green energy where RIL is initially investing Rs 75,000 crore. Ambani, who has led Reliance for two-decades RIL as its chairman, said its next-gen leaders were confidently taking over the reins across businesses.

ADVERTISEMENT

“Akash and Isha have assumed leadership roles in Jio and Retail respectively. They have been passionately involved in our consumer businesses since inception. Anant has also joined our new energy business with great zeal. In fact, he is spending most of his time in Jamnagar,’’ he disclosed.

The RIL chairman added that they were being mentored on a daily basis by its senior leaders including him and the Reliance board. He said the Ambani scions have fully inherited founder Dhirubhai Ambani’s mindset even as they are the “first among equals’’ in a young team of leaders and professionals at Reliance.

Analysts said Ambani has clearly communicated his succession plan. “A highlight of the AGM was Mukesh Ambani’s emphasis on succession planning. He concluded his address by seeking everyone’s blessings for the gen-next taking over the reins confidently. With Akash heading Jio, Isha heading retail and Anant heading energy, the plans are clearly spelt out,’’ V.K. Vijayakumar, chief investment strategist at Geojit Financial Services, said. Ambani insisted that he isn’t retiring yet and will “continue to provide hands-on leadership as before”.

Follow us on:
ADVERTISEMENT