THE WHAT? The Chair of Reliance Industries, Mukesh Ambani has nominated his three children to the Board, while his wife, Nita, is set to surrender her seat.
THE DETAILS The Financial Times reports that Isha, Akash and Anant will take on the role subject to shareholder approval. Mukesh has pledged to spend the next five years mentoring his children to shape them into ‘next-gen leaders’.
THE WHY? Nita will focus her efforts on her philanthropic work via Reliance Foundation while Ambani’s appointment of all his children is aimed at avoiding a repeat of the events that followed his father’s death with Mukesh and brother Anil battling to take the helm.