Reliance Industries Ltd (RIL) Appoints Isha Ambani, Akash Ambani, and Anant Ambani to Its Board

August 28, 2023

In a significant development, Reliance Industries Ltd (RIL) has announced the appointment of three new members to its board of directors: Isha Ambani, Akash Ambani, and Anant Ambani. The decision was made during the company’s 46th annual general meeting (AGM), held on Monday, August 28. This move comes as part of a strategic reshuffle within the company’s leadership.

New Appointments and Departure

The RIL board’s decision to recommend Isha Ambani, Akash Ambani, and Anant Ambani as non-executive directors reflects the company’s commitment to infusing fresh perspectives and youthful dynamism into its leadership. Nita Ambani, who has played a pivotal role as a board member, will be stepping down from her position on the RIL board. However, she will continue to serve as the chairperson of the Reliance Foundation, ensuring a seamless transition of leadership responsibilities.

“RIL has cumulatively invested more than $150 billion in the last 10 years, higher than any corporate in India,” shared Mukesh Ambani, Chairman of Reliance Industries, during the AGM.

Financial Highlights

Mukesh Ambani also presented key financial insights during the AGM. He revealed that RIL’s consolidated revenues for the fiscal year 2022-2023 stood at an impressive Rs 9,74,864 crore. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached Rs 1,53,920 crore, underscoring its robust operational performance. Furthermore, RIL’s net profit for the same period amounted to Rs 73,670 crore.

Regulatory Filing

RIL’s formal communication regarding the new appointments was made through a regulatory filing. The company stated, “The Board of Directors of the Company… considered and recommended to the shareholders appointment of Isha M. Ambani, Akash M. Ambani, and Anant M. Ambani as Non-Executive Directors of the Company with effect from the date of assumption of office after approval from shareholders.” The announcement highlighted that the nominations fulfill the criteria set forth by the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

About Isha M Ambani

Isha M Ambani, a key member of the executive leadership teams at Reliance Retail Venture Ltd, Reliance Jio, and Reliance Foundation, brings a wealth of experience to her new role on the RIL board. Her involvement in driving the expansion of Reliance Retail into diverse categories, geographies, and formats has been instrumental in the company’s growth. With a focus on enhancing the overall customer experience, Isha Ambani is deeply engaged in the work carried out by Reliance Foundation. She holds a double major in Psychology and South Asian Studies from Yale University and an MBA from Stanford University.

About Akash M Ambani

Akash M Ambani’s journey within the Reliance Group has been remarkable. Serving as the Chairman of Reliance Jio Infocomm Limited (RJIL) since June 2022, he has been instrumental in propelling the company’s digital services business. Under his leadership, Jio achieved a significant milestone by crossing 450 million customers. Akash Ambani’s contributions extend beyond digital services; he has also been part of Reliance Industries’ retail business, serving as a Director on the Board of Reliance Retail Ventures Limited since October 2014. His expertise lies in leveraging cutting-edge technologies like 5G, AI, Blockchain, and IoT to revolutionize various sectors, including commerce, education, and healthcare.

About Anant M Ambani

Anant M Ambani’s role in driving Reliance Industries’ energy and materials businesses is integral to the company’s global operations in renewable and green energy. He has been a Director on the Boards of Jio Platforms Limited, Reliance Retail Ventures Limited, Reliance New Energy Ltd, Reliance New Solar Energy Ltd, and Reliance Foundation. Anant Ambani’s vision aligns with Reliance’s goal of becoming a Net Carbon Zero company by 2035. His initiatives include developing clean fuels, advancing carbon capture and storage technologies, and fostering circular materials businesses. Beyond his professional pursuits, Anant Ambani is deeply committed to animal welfare initiatives.

A Promising Future

The addition of Isha Ambani, Akash Ambani, and Anant Ambani to RIL’s board of directors marks a significant step in nurturing a new era of leadership within the company. Their diverse experiences and innovative thinking are poised to drive Reliance Industries towards even greater success in the years to come.

For more updates and insights from the 46th AGM, stay tuned to Reliance Industries’ official channels.

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