MUMBAI: The Board of Directors of Reliance Industries Limited, at its meeting on Monday, recommended to the shareholders the approval of the appointment of Isha Ambani, Akash Ambani and Anant Ambani as non-executive directors of the company.
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. They also serve on the boards of the key subsidiaries of RIL.
While Isha M Ambani has been driving the expansion of Reliance Retail, Akash M. Ambani is serving as the Chairman of Reliance Jio Infocomm Limited (RJIL) since June 2022 and Anant M Ambani is driving the expansion of energy and materials businesses of Reliance Industries.
Isha Ambani is part of the executive leadership teams as a Member of the Board at Reliance Retail Venture Ltd, Reliance Jio and Reliance Foundation (RF), Reliance Foundation Institution of Education and Research, and Dhirubhai Ambani International School.
She has been driving the expansion of Reliance Retail into new categories, geographies and formats and is focused on enhancing the overall customer experience, a release said.
Reliance Retail has its presence in Food, Consumer Elec retailer by reach, scale, revenue and profitability.
Isha Ambani is also involved with the launch and operations of the Nita Mukesh Ambani Cultural Centre, launched in Mumbai in March 2023.
She graduated from Yale University with a double major in psychology and South Asian Studies and is also an MBA from Stanford University.
She has been named in TIME magazine’s TIME100 Next list of rising stars from across industries from around the world and has been recognized with the GenNext Entrepreneur Award at the Forbes India Leadership Awards 2023.
Serving as Chairman of Reliance Jio Infocomm Limited since June 2022, Akash Ambani was earlier serving as Non-Executive Director on RJIL board since October 2014. He also serves on the Board of Jio Platforms Limited, Reliance Industries’ digital services business.
At Jio, he spearheads the creation of products and services that leverage new-age technologies like 5G, Artificial Intelligence, Blockchain and the Internet of Things to bring about a generational shift in commerce, education, and healthcare across India. Under his leadership, Jio crossed the 100 million subscriber mark in less than six months of its launch in 2016, and today serves over 450 million customers, the release said.
Akash Ambani is part of the RJIL Executive Committee, the governing and operating council. He is also a member of the Product Leadership Group and is closely involved in the development of products and all digital services applications.
An avid sportsperson, he has played a key role in the management of Mumbai Indians, contributing to their winning the IPL 2013, 2015, 2017, 2019 and 2020 as well as CLT20 2011 and CLT20 2013 championships.
Akash Ambani received a Bachelor’s in Economics from Brown University, USA. He has been named in TIME magazine’s TIME100 Next list of rising stars from across industries around the world, and Fortune’s 40 Under-40 young leaders who stood out for their impact on business.
Anant Ambani is serving as a Director on the Boards of Jio Platforms Limited since March 2020, Reliance Retail Ventures Limited since May 2022 and Reliance New Energy Ltd and Reliance New Solar Energy Ltd since June 2021. He also serves on the Board of Reliance Foundation since September 2022.
Anant Ambani is driving the expansion of energy and materials businesses of Reliance Industries and its global operations in renewable and green energy, the release said.
Under his leadership, Reliance aims to become a Net Carbon Zero company by 2035 by building world-scale capabilities in the production of dean fuels and materials of the future, developing next-generation carbon capture and storage technologies, creating holistic and circular materials businesses, and maximising crude to chemicals conversion.
Anant Ambani is also involved with several compassionate initiatives to rehabilitate at-risk animals and providing them care and dignity in their residual life.
He received his Bachelor’s degree from Brown University, USA.
A Reliance Industries release said that appointment of Isha Ambani, Akash Ambani and Anant Ambani as non-executive directors will take effect from the date they assume office after approval by the shareholders.
The RIL release said that the Board of Directors also accepted the resignation of Nita Ambani from the Board respecting her decision to devote her energies and time to guide and enable Reliance Foundation to make even greater impact for India.
The Board of Directors also accepted the resignation of Nita Ambani from the Board, respecting her decision to devote her energies and time to guide and enable Reliance Foundation “to make an even greater impact for India”.
The Board of Directors appreciated Nita Ambani for her leadership of Reliance Foundation as its Founder Chairperson.
“Over the years, Reliance Foundation has made considerable progress in its mission of nurturing and empowering marginalised and under-resourced communities in India. They lauded Nita Ambani’s request to focus even more on strengthening Reliance Foundation as it embarks on a mission to achieve even greater societal transformation by undertaking a host of new programmes and initiatives,” RIL release said.
As the Chairperson of Reliance Foundation, Nita Ambani will attend all the RIL Board meetings as a permanent invitee to the Board so that the Company can continue to benefit from her advice.
The recommendation for new appointments on board of directors was made on the recommendation of the Human Resources, Nomination and Remuneration Committee.
Their appointment Isha Ambani, Akash Ambani and Anant Ambani to the Board of RIL will enable RIL to gain from their insights and infuse new ideas, the Board said.
Reliance is India’s largest private sector company, with a consolidated revenue of Rs 9,74,864 crore ($118.6 billion), cash profit of Rs 1,25,951 crore ($ 15.3 billion) and net profit of Rs 73,670 crore ($9.0 billion) for the year ended March 31, 2023. (ANI)