In a move shrouded with mystery and ambition, Mukesh Ambani’s succession plan for Reliance Industries has taken a significant step forward. What perks do Isha, Akash, and Anant Ambani receive? The details may surprise you.
Mukesh Ambani, India's wealthiest businessman and the world's ninth richest person, is steering his colossal enterprise into the future by placing his three children on Reliance’s Board of Directors. Isha, Akash, and Anant Ambani are set to inherit not just their father's empire but his strategic vision. However, contrary to common corporate practices, the trio will not be drawing a salary in their new roles. Instead, they will enjoy various benefits similar to those received by their mother, Nita Ambani.
According to reports, Nita Ambani, who joined the Reliance board in 2014, earns a sitting fee of Rs 6 lakh and a profit-based commission of Rs 2 crore annually. The new directors will receive remuneration for attending meetings, covering expenses, and profit-related commissions.
Nita Ambani has stepped down as a director but retains a unique position as a permanent invitee to all board meetings, a privilege not granted to Mukesh Ambani or other board members. In contrast, executive directors Nikhil and Hital Meswani saw their salaries rise significantly, revealing the varied financial structures within Reliance.
Mukesh Ambani will remain chairman and CEO for another five years, emphasizing his commitment to grooming his children for leadership. Notably, Ambani has waived his salary since 2020, continuing this policy into the new term starting in April 2024.
As Reliance Industries moves forward, Akash Ambani leads Reliance Jio, Isha Ambani heads Reliance Retail, and Anant Ambani oversees Reliance New Energy.
