Mukesh Ambani details succession plan; retail to Isha, energy to Anant

Mukesh Ambani says he isn’t retiring yet

Billionaire Mukesh Ambani on Monday laid bare the succession plan at India’s most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit.

He, however, insisted he isn’t retiring yet and will “continue to provide hands-on leadership as before”.

At the annual shareholders’ meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains “a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines.”

Reliance has three broad businesses -- oil refining and petrochemicals, retail, and digital services that include telecom. Retail and digital services are housed in separate wholly-owned subsidiaries -- Jio Platforms and Reliance Retail Ventures Ltd (RRVL).

Also read: Reliance Jio to invest ₹2 lakh crore in 5G; rollout in metros by Diwali

The oil-to-chemical or O2C business is a functional division of Reliance. The new energy business is also with the parent firm.

Just like his business, Mr. Ambani, 65, also has three children -- twins Akash and Isha, and youngest son Anant.