RIL Board Appoints Anant Ambani as Executive-Director for Five Years

In a move signalling the next phase of succession planning, Mukesh Ambani-led Reliance Industries has appointed Anant Ambani as the executive director of the company. The board of directors on April 25 appointed the youngest son of Mukesh Ambani for the position, subject to shareholders’ approval.

Anant, who is already non-executive director, will now serve as the whole-time executive director for a period of five years with effect from May 1. Anant has also been the part of the board of Jio Platforms since May 2022, Reliance Foundation since September 2022, and Reliance New Energy and Reliance New Solar Energy since June 2021.

The two cousins of Mukesh Ambani—Hital R Meswani and Nikhil R Meswani, and PMS Prasad are the other executive directors of the conglomerate, according to the information available on the company’s website.

He is the first among his siblings to be appointed as the executive director of the conglomerate. His elder brother, Akash Ambani is serving as the chairman of Jio Infocomm since 2022, while sister Isha Ambani Piramla is leading Reliance’s retail business.

In an interview with Bloomberg Nita Ambani has said that her three children are choosing the roles they take in the empire instead of being told by their parents. “So all of them are so passionate about what they do. Sometimes I just have to watch them fly to their own dreams,” Nita had said. “This is the time for them to take the lead,”she further added.

During the appointment of Anant Ambani to Reliance Industries' board, domestic advisory firm Institutional Investor Advisory Services had advised shareholders to vote against the move, citing his age, 28, as not aligning with its internal voting guidelines, The Economic Times said in its report. This was despite the confidence from Reliance board in Anant Ambani’s leadership.

Similarly, US-based Institutional Shareholder Services had, too, raised concerns over his limited board and leadership experience, according to Bloomberg's reported.