Reliance Industries Chairman Mukesh Ambani Hints At Leadership Transition
Billionaire Mukesh Ambani on Tuesday referred to the leadership change at his energy-to-retail conglomerate, saying he wants the process to be expedited for the younger generation with seniors including him.
Mr Ambani, 64, who has not previously spoken about succession plans at the country’s most valuable company, said Reliance is “now in the process of effecting a significant leadership change.” The Ambanis have three children – twins Akash and Isha and Anant.
Speaking on Reliance Family Day, which marks the birth anniversary of group founder Dhirubhai Ambani, he said that Reliance Industries Limited (RIL) will become one of the world’s strongest and most reputed Indian multinationals in the years to come. Inspired by efforts. The clean and green energy sector as well as the retail and telecommunications business reached unprecedented heights.
“Achieving big dreams and impossible-looking goals is all about finding the right people and the right leadership. Reliance is now in the process of effecting a significant leadership change… from my generation seniors to the next generation of young leaders Till,” he said.
And this process, he would like to “be faster”. The speech was reported by a news outlet owned by Mr. Ambani.
The company did not immediately respond to an e-mail seeking comment on Mr Ambani’s remarks about the succession.
“All seniors – including me – must now bow down to the highly capable, extremely committed and incredibly promising young leadership talent at Reliance,” Ambani said. “We should guide them, enable them, encourage and empower them … and sit back and applaud because they outperform us.” He did not elaborate.
Reliance now has three verticals – the energy business consisting of oil refineries, petrochemicals plants and new energy factories in Jamnagar, Gujarat, the retail business made up of physical stores and online e-commerce unit at JioMart, and the telecom and digital business based in Jio.
Ambani said that an organizational culture should be created at Reliance that goes beyond its leaders. “I have no doubt that Akash, Isha and Anant will take Reliance to even greater heights as leaders of the next generation.” In them, he saw “the same spark and potential” that the great industrialist and his father had “to make a difference in the lives of millions and contribute to the development of India.” “Let us all wish him the best of luck in his mission to make Reliance even more successful with even more transformative initiatives and even more appreciation for our Reliance,” he added.
He sounded cautious not to let the guard down, saying that while normalcy is slowly returning after the pandemic, there is still uncertainty over the spread of the new variants.
Mr Ambani said that despite the pandemic, Reliance has completely revamped its energy business.
The energy business was previously limited to oil refining, petrochemicals, fuel retailing and natural gas production. Now, it is investing billions of dollars in setting up clean energy factories.