Mukesh Ambani identifies youngest son Anant as leader for new energy business in succession plan at Reliance.
That comes on the heels of Mukesh Ambani introducing his daughter Isha as leader of Reliance group’s retail business on Monday while addressing the shareholders at Reliance Industries’ virtual Annual General Meeting; in another sign, the billionaire is pushing ahead with a plan for succession in one of Asia’s richest families.
Anant is Ambani’s youngest son who is focussing on the conglomerate’s new energy business, a key area of investment for Ambanis. Reliance is vying to be at the forefront of Prime Minister Narendra Modi’s ambition to ramp up green energy capacity.
Reliance has major expansion plans to diversify into clean energy projects, including solar and green hydrogen.
Mukesh Ambani had initiated a long-anticipated leadership transition at Reliance by handing over the chairmanship of its telecoms unit to his son, Akash Ambani, in June.
At the company’s 45th virtual Annual General Meeting, there was new sign of change at Mr Ambani’s empire after the billionaire had last year said his children would have significant roles in the business, adding Reliance was “in the process of effecting a momentous leadership transition.”