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Mukesh Ambani’s daughter Isha set to be named chair of Retail arm

An announcement of Isha Ambani’s elevation could come as early as Wednesday, according to people with knowledge of the matter, who asked not to be identified ahead of a formal statement. She is currently director of Reliance Retail Ventures Ltd.

June 29, 2022 / 11:25 AM IST
Isha Ambani, daughter of billionaire Mukesh Ambani, arrives for the Reliance Industries Ltd. annual general meeting in Mumbai, India, on Monday, Aug. 12, 2019. Saudi Aramco will buy a 20% stake in the oil-to-chemicals business of India’s Reliance Industries Ltd., including the 1.24 million barrels-a-day Jamnagar refining complex on the country’s west coast, Reliance Chairman Mukesh Ambani said at the company’s annual general meeting in Mumbai.

Isha Ambani, daughter of billionaire Mukesh Ambani, arrives for the Reliance Industries Ltd. annual general meeting in Mumbai, India, on Monday, Aug. 12, 2019. Saudi Aramco will buy a 20% stake in the oil-to-chemicals business of India’s Reliance Industries Ltd., including the 1.24 million barrels-a-day Jamnagar refining complex on the country’s west coast, Reliance Chairman Mukesh Ambani said at the company’s annual general meeting in Mumbai.

 
 
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Isha Ambani is set to be named chairperson of the Reliance conglomerate’s retail unit in another sign that her father, Indian billionaire Mukesh Ambani, is pushing ahead with a plan for succession in one of Asia’s richest families.

An announcement of Isha Ambani’s elevation could come as early as Wednesday, according to people with knowledge of the matter, who asked not to be identified ahead of a formal statement. She is currently director of Reliance Retail Ventures Ltd.

A representative for the group declined to comment.

Isha Ambani’s promotion follows that of her twin brother, Akash Ambani, who was appointed on Tuesday as chairperson of the telecom unit, Reliance Jio Infocomm Ltd. Isha and Akash have both been part of teams that negotiated Meta Platforms Inc.’s investment in the group.

Isha, 30, is an alumnus of Yale University. The twins have a younger brother, Anant, 27.

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Reliance Retail and Reliance Jio are subsidiaries of the family’s oil-to-telecom conglomerate, of which the $217 billion Reliance Industries Ltd. is the flagship firm. Mukesh Ambani is chairperson and managing director of Reliance Industries.
Bloomberg
first published: Jun 29, 2022 10:54 am
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