Reliance Industries Ltd chairman Mukesh Ambani said that he is devoting a significant amount of his time to expand the pool of capable leaders within the conglomerate, even as his three children have stepped up to take on greater responsibilities.
“Akash, Isha, and Anant have just completed one year as board members. They have stepped up to take on greater responsibilities, as first among equals in Reliance’s next-generation leadership,” chairman Ambani said at the company’s 47th annual general meeting in Mumbai on August 29.
Ambani’s speech showcased how the conglomerate has ambitions of becoming a deep-tech and advanced manufacturing company with the aim to align and propel the country’s goal of ‘Viksit Bharat’.
“In addition to them (his children), we are mentoring a large team of dynamic and exceptionally competent young leaders who are eager to assume bigger roles at Reliance. We continue to grow our professional talent pool from around the world, aligning with our vision of making Reliance a global corporation,” he said.
He said that building this pool of leaders is a key priority for the company.
“As Reliance takes on new and greater challenges, we will need an ever-expanding pool of capable leaders – leaders who are fully committed to the purpose, philosophy, passion, and pioneering spirit of our founding chairman. I am personally devoting the largest part of my time to this task, along with our esteemed board members and senior colleagues. I am pleased to report that we have made tremendous progress in these efforts,” he said.
The RIL chairman also spoke about Reliance Industries being a ‘national institution.’ He said, “I firmly believe that my family and I, and also other senior members of the management team, are simply trustees of this great institution. Personal or family wealth holds no importance for me. What truly matters is our responsibility to pass on this precious institution to the next generation on a solid foundation.”
He also said that Reliance aims to set up international schools with an Indian heart and soul.
"To make this vision a reality, Reliance Foundation is proud to introduce our flagship Teacher Training initiative with our soon-to-be-launched School Leadership & Administration Programme," he said.
Ambani also said that as Reliance will need an ever-expanding pool of capable leaders – leaders who are fully committed to the purpose, philosophy, passion, and pioneering spirit of its founding chairman.
"I am personally devoting the largest part of my time to this task, along with our esteemed board members and senior colleagues. I am pleased to report that we have made tremendous progress in these efforts," Ambani said.
Back in August 2022 at RIL's 45th AGM Ambani had unveiled the succession plan at India's most valuable company, identifying his twin children Akash and Isha for leadership of the telecom and retail businesses, and youngest son Anant for the new energy unit.
Reliance has three broad businesses — oil refining and petrochemicals, retail, and digital services that include telecom. Retail and digital services are housed in separate wholly-owned subsidiaries — Jio Platforms and Reliance Retail Ventures Ltd (RRVL). The oil-to-chemical or O2C business is a functional division of Reliance. The new energy business is also with the parent firm.
Akash Ambani is a non-executive director on Reliance Jio Infocomm Ltd board since October 2014 and the chairman of Reliance Jio Infocomm Ltd since 2022.
While Akash has been made functional head of Jio Platforms, Isha leads Reliance Retail Ventures. She is also a part of the Reliance Foundation, Reliance Foundation Institution of Education and Research, and Dhirubhai Ambani International School.
Anant is a director on the Boards of Jio Platforms Limited since March 2020, Reliance Retail Ventures Limited since May 2022 and Reliance New Energy Limited and Reliance New Solar Energy Limited since June 2021. He is also a part of the Reliance Foundation.
The $76-billion pivot toward green energy is the biggest transformation that Ambani is helming currently. It’s also a complex transition given Reliance’s roots in petrochemicals and crude oil refining and the continued out-sized contribution of the fossil fuel-led businesses to the conglomerate’s yearly revenue.
Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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