Mukesh Ambani's Expectations For Reliance Industries’ Next-Gen Leaders
Mukesh Ambani, India”s richest man who transformed Reliance Industries Ltd. (RIL) into the biggest conglomerate, is contemplating the succession plan. According to reports, on a Reliance family occasion, Ambani revealed that the future of Reliance belongs to his three children, Akash, Isha, and Anant Ambani, as well as executives from their generation.
The billionaire said, “At a time when Reliance is undergoing a generational transition, I attach immense importance to further strengthening this unique institutional culture. Here is yet another principle we must follow:. We must keep Reliance forever young by ensuring that the average age of all our talented teams remains in the ‘30s.”
Mukesh Ambani wishes to see Reliance become one of the top 10 business conglomerates in the world under the command of his children.
“As India races ahead to become the world’s third-largest economy, an unprecedented opportunity awaits Reliance. Reliance can, and Reliance will, grow to be among the top 10 business conglomerates in the world,” he said.
Mukesh Ambani commenced the succession procedure earlier this year by appointing three children—twins Akash and Isha and younger son Anant—to the board of the company after approval from shareholders. According to a report, Ambani is poised to draw up a clear succession plan facilitating the transfer of Reliance shares to his children hassle-free, unlike his father, Dhirubhai Ambani, who passed away in 2002 and left his business to his sons Mukesh and Anil Ambanis. A conflict was reported to have emerged between Mukesh and Anil during the succession period.
However, after the demerger, Mukesh Ambani emerged as the winner as he succeeded in transforming Reliance Industries into the country’s biggest conglomerate, while Anil Ambani faced financial difficulties and has been involved in several legal disputes. In February 2020, he declared before a UK court that his net worth was zero and that he was bankrupt.
In the latest scenario, Isha Ambani runs the retail vertical of Reliance, Akash Ambani heads the telecom business of Reliance Jio, and Anant Ambani is leading the new green energy business of the company.
