RIL succession plan: Akash, Isha to be elevated as chairpersons of telecom, retail holding companies

It is to be noted that none of the Ambani siblings is on the board of Reliance Retail Ltd, a subsidiary of RRVL and it is unlikely to change in the near future as well. According to the Companies Act, only board members can be elevated to the position of chairperson. So, Isha Ambani’s elevation as RRL chairperson is technically impossible.
RIL succession plan: Akash, Isha to be elevated as chairpersons of telecom, retail holding companies

RIL succession plan: Akash, Isha to be elevated as chairpersons of telecom, retail holding comapnies

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Mukesh Ambani’s succession plan involves elevating his two eldest children Akash and Isha as chairpersons of the telecom and retail units of the $207- billion Reliance Industries Ltd (RIL).
The 65-year-old RIL chairman and managing director stepped down from the board of Reliance Jio Infocomm (RJIL) to make way for Akash, 30. RJIL is a subsidiary of Jio Platforms, the holding company which owns all digital properties of the group including Jio Platforms. The retail arm of the company is structured similarly but it is unlikely to witness a major board level rejig right now, including the elevation of Isha Ambani as chairperson, according to a report in Economic Times. Both Akash and Isha are expected to be elevated as chairpersons of the respective holding companies but the timeline of the same remains unclear.
Reliance Retail Ventures Ltd (RRVL) is the holding company of RIL’s brick-and-mortar and online retail assets including fashion and lifestyle brands, 7-Eleven stores, online pharmacies, hypermarkets, supermarkets, electronic stores, food and grocery outlets etc.
Reliance Retail Ltd (RRL), a subsidiary of RRVL, is the operating company of the business. Just like Jio, Mukesh Ambani is still the chairman of RRVL.
Both Akash and Isha Ambani have been on the board of RRRVL since November 2019 and were inducted into Jio Platforms. The youngest son Anant was appointed to Jio Platforms in March 2020 and later into RRVL in 2022. Before Anant’s recent elevation as chairperson of Jio Infocomm, all three siblings had the same title of non-executive, non-independent directors of RRVL and Jio Platforms. Anant and Isha will continue to remain on boards of the telecom and retail holding companies, the report further added.
It is to be noted that none of the Ambani siblings is on the board of RRL and it is unlikely to change in the near future as well. According to the Companies Act, only board members can be elevated to the position of chairperson. So, Isha Ambani’s elevation as RRL chairperson is technically impossible.
“Instead over the next few years, both Akash and Isha will get elevated as chairperson of the telecom and retail holding companies simultaneously as Mukesh Ambani would look to withdraw further from day-to-day operations,” a senior legal person told ET.
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