Reliance AGM 2022: Mukesh Ambani Succession Plan

Mukesh Ambani said his three children will lead businesses of his oil-to-telecom conglomerate, outlining the leadership transition that is already underway at Reliance Industries Ltd.

"Reliance’s next-gen leaders are confidently taking over the reins across businesses," Ambani said in a virtual address to the shareholders at the 45th annual general meeting on Monday. "Akash and Isha have assumed leadership roles in Jio and retail, respectively. Anant has joined the new energy business."

Reliance Jio Infocomm. Ltd. had named Akash as its chairman in June, signalling that is speeding up leadership succession. Bloomberg had earlier reported that Isha was set to head the retail unit. All three are already on the boards of different group companies.

They are part of a young team of leaders and professionals who are already doing amazing things at Reliance, Ambani said at the AGM. All of them are being mentored on a daily basis by RIL’s senior leaders, including the chairman and the board of directors, Ambani said.

Ambani said Reliance aims to more than double its value by the end of its Golden Decade in 2027—when it completes 50 years.

The company has a diversified and growing talent pool, he said. It has professionals representing over 60 nationalities, and this pool of young talent will become even larger and deeper as its businesses become bigger and more global, he said.