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Mukesh Ambani’s children appointed to board of Reliance Industries, wife Nita steps down

Mukesh Ambani with wife Nita Ambani and children.

India’s biggest conglomerate Reliance Industries Ltd. announced on Monday that the three children of billionaire chairman Mukesh Ambani — Isha, Akash and Anant Ambani —  have been appointed to  the company’s board of directors as part of the latest move in the succession plan of the oil-to-telecom giant.

Nita, Mukesh Ambani’s wife, has resigned from the board, according to a statement filed by the company with the stock exchange.

The three children are already holding leadership roles in the businesses of the family empire established by their grandfather the late Dhirubhai Ambani.

Akash leads the digital business, Jio Platforms, whereas his twin sister Isha heads  Reliance Retail. Anant is chief of the new energy business in which the company is investing in a big way.

“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,” the company said in a statement.

“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.”

Mukesh Ambani has earlier said his children would have significant roles in the business and that Reliance was “in the process of effecting a momentous leadership transition”.