• Monday, May 27, 2024

Business

Nita Ambani steps down from Reliance board; children Isha, Akash & Anant join

The 59-year-old Nita, wife of Reliance chairman Mukesh Ambani, will continue to be the chairperson of Reliance Foundation.

Nita Ambani (ANI Photo)

By: Shubham Ghosh

INDIAN entrepreneur-philanthropist Nita Ambani on Monday (28) stepped down from the board of directors of Reliance Industries Limited (RIL), making way for children Isha, Akash and Anant to become the non-executive directors on the board.

In a statement, the oil-to-telecom conglomerate said, “The board of directors of RIL, at its meeting on Monday, on the recommendation of the human resources, nomination and remuneration committee, considered and recommended to the shareholders for approval of appointment of Isha Ambani, Akash Ambani and Anant Ambani as non-executive directors of the Company. Their appointment will take effect from the date they assume office after approval by the shareholders.”

The Ambani family
Indian oil-to-telecom conglomerate Reliance Industries chairman Mukesh Ambani (R) and his wife Nita Ambani (2R) pose with their children (L-C) Akash Ambani, Anant Ambani and Isha Ambani in Mumbai on July 21, 2017. (Photo by INDRANIL MUKHERJEE/AFP via Getty Images)

The 59-year-old Nita, wife of Reliance chairman Mukesh Ambani, will continue to be the chairperson of Reliance Foundation. The company said they respected her decision to quit the board 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 for her leadership at Reliance Foundation as its founder chairperson.

The foundation has over the years successfully worked on nurturing and empowering marginalised and under-resourced communities in India. Nita Ambani has sought to focus more on strengthening Reliance Foundation as it embarks on a mission towards achieving greater societal transformation by undertaking new initiatives and her efforts were praised.

However, as the chairperson of the foundation, she will continue to attend all board meetings as a permanent invitee so that the company can benefit from her advice.

The Ambani siblings have taken over charges over Reliance’s key businesses over the last several months, including retail, digital services and energy and materials businesses, conveying a gradual transformation in the leadership.

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