Nita Ambani resigns from Reliance board; Ambani siblings proposed directors
What's the story
Reliance Industries Ltd. (RIL) has announced a significant change in its board, with Nita Ambani stepping down. Isha Ambani, Akash Ambani, and Anant Ambani will be appointed as directors. Their appointment will take effect after approval from the shareholders. Nita reportedly resigned from Reliance's board to focus on her role as the chairperson of Reliance Foundation, where she will guide and enable the foundation to make a greater impact in India.
Details
Nita to attend board meetings as permanent invitee
Despite her resignation, Nita will attend all RIL board meetings as a permanent invitee, allowing the company to continue benefiting from her advice. The Board of Directors appreciated her leadership of Reliance Foundation as its founder chairperson. The board also lauded her request to focus even more on strengthening Reliance Foundation as it embarks on a mission to achieve even greater societal transformation.
What Next?
Ambani siblings to serve on board of RIL subsidiaries
Meanwhile, the Ambani siblings have been involved with RIL for several years, leading and managing key businesses such as retail, digital services, and energy and materials. In their new roles as non-executive directors, they will also serve on the boards of key RIL subsidiaries. Their appointment to the board of RIL will enable the company to gain from their insights and infuse new ideas, according to the board.