Updated on: 28th August 2023 5:35 PM IST | Mumbai
S S Nadar | news@debotimes.in

Isha, Akash and Anant Ambani set to become the non-executive directors on the RIL Board; Nita Ambani to continue as the chairman of Reliance Foundation

Nita Ambani on Monday 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 RIL Board.

The board of Reliance met ahead of the company’s annual general meeting to approve the appointment of twins Isha and Akash as well as Anant, as the “non-executive directors of the company,” the firm said in a stock exchange filing.

“Their appointment will take effect from the date they assume office after approval by the shareholders,” a press release by the company stated.

Meanwhile, Nita Ambani will continue to be the chairperson of Reliance Foundation. The company’s statement said they respected her decision to resign from the board in order to “devote her energies and time to guide and enable Reliance Foundation to make an even greater impact for India.”

Last year, RIL chairperson Mukesh Ambani made way for his first-born Akash Ambani to become the chairman of India’s largest mobile firm, Reliance Jio Infocomm Ltd.

Jio Infocomm is a subsidiary of Jio Platforms, in which Meta and Google hold stakes and is still chaired by Mukesh. RIL is the parent of Jio Platforms.

Akash’s twin sister, Isha, was identified for Reliance’s retail arm and the youngest sibling Anant for the new energy business.

Akash and Isha have been on the boards of Reliance Retail Ventures Ltd — the company that operates supermarkets offering consumer electronics, food and grocery, fashion, jewellery, footwear, and clothing, as well as the online retail venture, JioMart – and digital arm Jio Platforms Ltd (JPL) since October 2014.

This is the first time that the siblings have been appointed on the board of the parent firm.

“Their appointment to the Board of RIL will enable RIL to gain from their insights and infuse new ideas, the Board opined,” the company press release said.