Anant Ambani appointed Executive Director of Reliance Industries

New Delhi: Billionaire Mukesh Ambani's youngest son, Anant has been appointed as Executive Director of Reliance Industries Ltd for a five- year term effective May 1, the company said.

Ambani had in August 2023 inducted his three children - twins Isha and Akash and Anant - on the board of oil-to-telecom conglomerate as non-executive directors, in preparation of an eventual succession plan.

Asia's richest person in recent years has said that the children would have significant roles at Reliance, India's most valuable and profitable company. Eldest son Akash is already chairman of the telecom arm, Jio Infocomm since June 2022 after joining the unit in 2014.

His twin sister Isha drives the company's retail, e-commerce and luxury businesses. Anant overseas new energy business.

All three children are on board of Jio Platforms, the unit that holds telecom and digital properties of Reliance, and Reliance Retail.

"The Board of Directors of Reliance at its meeting on April 25, on the recommendation of the Human Resources, Nomination and Remuneration Committee, considered and appointed Anant M. Ambani, a Non-Executive Director...as Whole-time Director designated as Executive Director of the Company, for a period of 5 years with effect from May 1, 2025, subject to approval of members of the company," Reliance said in a stock exchange filing.

Anant, a graduate from Brown University, is the first among the Ambani siblings to be appointed as an executive director at Reliance.

Anant was appointed as the leader of the company's energy vertical in August 2022. He is also on the board of Jio Platforms Ltd from March 2020, on Reliance Retail Ventures Ltd board from May 2022 and on board of Reliance New Energy Ltd as well as Reliance New Solar Energy Ltd from June 2021. He is also on the board of Reliance Foundation - the philanthropic arm of Reliance - since September 2022.