Anant Ambani, the youngest son of Reliance Industries chairman Mukesh Ambani, was Monday named as the head of the conglomerate’s energy business.
Anant’s appointment comes as part of dad Mukesh’s attempt to transfer the reigns of his behemoth to the younger generation. He has been a director of JPL, or Jio Platforms, for over two years and was recently confirmed as a director of Reliance Retail Ventures Ltd (RRVL).
Ambani also transferred leadership of Reliace’s retail wing to his daughter Isha. He also, however, said he had no plans to retire at this moment and that he would ‘continue to give hands-on leadership as before’. “Akash and Isha have assumed leadership roles in Jio and Retail respectively. They have been passionately involved in our consumer businesses since inception.”
Reliance is classified into three broad businesses – oil refining and petrochemicals, retail, and digital services that include telecom.
Further, Ambani added, “Anant has also joined our new energy business with great zeal. In fact, he is spending most of his time in Jamnagar.”
The 65-year-old tycoon hinted at a straightforward transfer of wealth in the succession plan after his younger brother and he engaged in a contentious succession battle after their father died without a will in 2002.