Mukesh Ambani to remain Chairman and MD of Reliance for next five years

Mukesh Ambani, chairman of Reliance Industries Limited, on Monday addressed the 46th Annual General Meeting. During the event, the RIL Chairman made a slew of key announcements. Chairman Mukesh Ambani formalised his succession plan at the conglomerate after five years.

He said he will mentor his three children Akah, Isha and Anant "so that they can provide collective leadership"."I shall continue to perform my duties and responsibilities as Chairman and Managing Director for five more years, with greater vigour," he said at the AGM.While Ambani didn't say he will step down after five years, he said he will use the next five years to train the next generation leaders. "I shall continue to perform my duties and responsibilities as Chairman and Managing Director for five more years, with greater vigour. Towards this end, I have assigned myself three responsibilities."First: I shall groom and empower all the Next-Gen leaders at Reliance and prepare them for the challenges and opportunities of the future. "Second: I shall especially mentor Akash, Isha and Anant so that they can provide collective leadership and dependably take Reliance to greater heights of growth and value in the decades ahead.

Mukesh Ambani began executing a succession plan for his energy-to-technology conglomerate Reliance Industries, appointing his three children Isha, Akash, and Anant to the board of the company on Monday.Till now, the three children were involved only at operating business-level and none were on the board of India's largest listed company.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.Last year, the 66-year-old tycoon had made way for his first-born Akash Ambani to become the chairman of India's largest mobile firm, Reliance Jio Infocomm Ltd.