Mukesh Ambani to step down from Reliance Industries This big statement made for the first time

Reliance Industries chairman Mukesh Ambani has for the first time made a statement on the issue of his group’s successor. He said that new generation is ready for leadership. Akash, Isha and Anant are performing better than us.

Mukesh Ambani is speaking at a family function on the birthday of Dhirubhai Ambani, the founder of Reliance. He said that young generation was now ready to play the role of leadership. Now I want to speed up the process of succession. We must guide the new generation. They must be empowered. They should be encouraged and seated and applauded

“I can see and feel the passion, commitment and dedication of Reliance’s children every day,” Ambani said. I see in him the same ability that my father had to transform the lives of millions and contribute to the development of India.

Ambani said 3 big things for the group

1. A brighter future than ever before
   “As we enter the second half of Reliance’s golden decade, I can tell you that the future of our company looks brighter than ever,” Ambani said. I can make two predictions with faith. First, India will become one of the top three economies in the world, second, Reliance will become one of the strongest and most prestigious Indian multinationals in the world.
2. Lay the foundation for the future development of Reliance

Ambani said it was time to take advantage of this great opportunity to lay the foundation for the future development of Reliance. Reliance started as a textile company. Now there are different businesses. Its oil to chemical company is now number one in sectors like retail, telecom and e-commerce.

3. Energy business reshaped
   “We have completely reshaped our energy business,” he said. Reliance is now moving towards becoming a global leader in clean and green energy and materials. This transformation of our oldest business will give us the biggest growth engine for Reliance.

Ambani said that Sebi’s April 2022 deadline for separation of chairman and managing director posts in listed companies has come. Market regulator Sebi has extended the time limit for listed companies to comply with its new standards. Chairman Ajay Tyagi said that we have given a lot of time to the industry to separate the posts of Chairman and Managing Director.

At Reliance’s annual function in June this year, Ambani had announced an investment of Rs 75,000 crore in clean energy over three years as the company had drifted away from fuel foil. On retail and telecom (Geo) business, Ambani said, “In the last one year alone, we have added about one million small shopkeepers and created around one lakh new jobs.”

Ambani, 64, took over as chairman of Reliance after his father’s death in 2002. Her three children Akash, Isha and Anant are involved in Reliance’s telecom, retail and energy business. None of them are on the board of Reliance but they are directors in the company’s main vertical. “I have no doubt that Akash, Isha and Anant will take Reliance to new heights as leaders of the next generation,” he said.