Reliance's Next-Gen Leaders: Mukesh Ambani's Children To Receive No Salary, Only Fees And Commissions
Billionaire Mukesh Ambani’s three children, Akash, Isha, and Anant, are set to become directors of Reliance Industries Ltd. Unlike other executive directors, including Ambani’s cousins Nikhil and Hital, who receive salaries, perquisites, allowances, and commissions, the Ambani children will be paid only a fee for attending board and committee meetings, along with a commission based on the company’s profits.
The terms of their appointment mirror those of Mukesh Ambani’s wife, Nita Ambani, who was appointed to the company board in 2014. Nita Ambani received a sitting fee of ₹6 lakh and a commission of ₹2 crore in the 2022-23 fiscal year.
Mukesh Ambani, the chairman and CEO of Reliance, announced at the company’s annual shareholders meeting that his children would join the board. He will continue in his role for five more years, focusing on grooming and empowering the next generation of leaders within the company.
Reliance Industries operates across five major verticals: oil-to-chemical (O2C) business, telecom and digital business, retail (both physical and online), new energy, and financial services.
Mukesh Ambani’s succession plan includes assigning specific roles to each of his children, with Akash leading the telecom division, Isha heading retail, and Anant taking charge of new energy initiatives. However, the succession plan for the core oil-to-chemicals division was not disclosed.
Reliance shareholders have approved Mukesh Ambani’s continuation as the company’s head until 2029, with him opting not to draw a salary during this period. Nita Ambani, despite resigning as a director, retains a permanent invitee status to all board meetings.
The article also highlights the qualifications and roles of each of the Ambani children within the company, emphasizing their contributions and responsibilities in their respective areas of focus.
Mukesh Ambani has been on the board of Reliance since 1977, becoming chairman after the passing of his father in 2002. He voluntarily capped his annual remuneration at ₹15 crore for several years and has forgone his salary and profit-based commission for three consecutive years due to the COVID-19 pandemic.
The remuneration of other executive directors, including Nikhil and Hital Meswani, as well as non-executive directors on the company’s board.
