India’s richest individual Mukesh Ambani declares a transition of leadership by appointing his son Akash Ambani as the new chairman of the board at Reliance Jio. The Ambani children have always played a significant role in the company’s growth. Nevertheless, this does not come up as a surprise for the masses; according to Monk, Last year Mukesh Ambani had already quoted that he could identify the same spark in his children as his father Dhirubhai Ambani who was the founder of Reliance.
More on Akash Ambani
Akash Ambani was previously the non-executive board member at Reliance Jio. He had his fair share in Jio’s strategic planning, growth, and development. Under his influence, Jio became India’s one of the biggest telecom operators serving over 40 crore subscribers. Akash’s appointment as the new chairman is considered a token of a shift of power to the new generation. With this Mukesh Ambani will not be on the board of Reliance Jio though, he will still show involvement in the strategy for business growth.
Akash completed his graduation from Brown University before joining Reliance at the group’s telecom unit in 2014. Akash was involved in product development and employee engagement back in his time. He played a key role in the company’s crucial projects.
Role of Isha Ambani
There was also an encouragement shown under the name of Isha Ambani who is the daughter of Mukesh and twin to Akash Ambani for the position of chairman at Reliance Retail Unit. Isha is currently the director of Reliance Retail Ventures Ltd. She completed her graduation from Yale University and has been active in the family business for quite a long time.
Both Reliance Retail and Reliance Jio are subsidiary companies of Reliance Industries Ltd. Mukesh Ambani is chairman and managing director of Reliance Industries. There were other adjustments made in the company like the appointment of Pankaj Mohan Pawar as the Managing Director (MD) of the company for a five-year tenure. Ex-bureaucrat RS. Gujral and former Central Vigilance Commissioner (CVC) KV Chowdary were introduced as independent directors.
So do these incidences signify a shift in the Ambani Empire to the next generation? Do let us know in the comments!
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