RIL CMD Mukesh Ambani's succession plan; Isha gets retail, Akash Jio, Anant energy
Mumbai: A key development has taken place in Reliance Industries Limited (RIL), the most valuable corporate group in the country. Reliance Industries Chairman and Managing Director Mukesh Ambani handed over the responsibility of Reliance Group Retail to his daughter Isha Ambani.
At the 45th AGM meeting of Reliance Industry, Mukesh Ambani announced that he is handing over the responsibilities of Reliance Retail to Isha Ambani. Supermarkets, consumer electronics, grocery, fashion, jewellery, footwear, clothing and online retail venture Jiomart will come under Reliance Retail.
But after this announcement, Mukesh Ambani announced that he is entering the FMCG sector by making orders and payments through WhatsApp from Reliance Retail. He said that the retail department has been developed to provide high-quality, low-cost essentials to every Indian.
Akash, Esha, Anant
Among Mukesh Ambani's three children, Akash and Esha are twins. The youngest son is Anant. It is already known that Mukesh Ambani has expedited the process of distributing assets among his three children.
In June this year, eldest son Akash Ambani was given the responsibility of managing the telecom division of Reliance Jio Infocomm Limited. Accordingly, he resigned from the Telecom Board. Recently, Isha Ambani was entrusted with the responsibility of the retail group. Industry sources believe that the younger son Anant Ambani will be handed over the new energy business unit
Mukesh Ambani in the footsteps of Sam Walton
This business empire worth lakhs of crores is spread across all sectors. If the same glory is to continue in the future, a well-planned and even more strategy is required. Mukesh Ambani, who is working for that, is planning to follow the path of Sam Walton, the founder of Wal-Mart, according to the Bloomberg article.
Mukesh Ambani is looking to set up a trust for this purpose and hand over all the responsibilities of Reliance Industries Limited to it. The board members of the new company will be Mukesh Ambani's wife Nita Ambani, his three children and other family members. Mukesh Ambani's close associates will be included on the board of the company that oversees the Reliance empire.