Reliance Industries Chairman and Managing Director on Monday (August 28) announced a major change in the board of Reliance Industries Limited during the 46th AGM of the company. Mukesh Ambani has inducted his daughter Isha Ambani, sons Akash Ambani and Anant Ambani on the board of Reliance Industries, while his wife Nita Ambani will resign from the board. Nita Ambani will however, continue to be the chairperson of Reliance Foundation. Isha Ambani, Akash Ambani and Anant Ambani will get a bumper salary and several other benefits after joining the board of Reliance Industries Limited. According to reports, Nita Ambani, who was a non-executive director on the board of Reliance Industries, was paid around Rs 6 lakh as sitting fee in the year 2021-22 and Rs 2 crore commission for 2022-23 (unchanged from the previous financial year). Nita Ambani was paid a commission of Rs 1.65 crore in the year 2020-21.
Apart from Nita Ambani, other non-executive directors of RIL are Deepak C Jain, Raghunath A Mashelkar, Adil Zainulbhai, Raminder Singh Gujral, Shumit Banerjee, former SBI chairperson Arundhati Bhattacharya, former CVC KV Chowdhury and Saudi Sovereign Wealth Fund nominee Yasir Othman H Al Rumayyan. According to the report, all the independent directors have received Rs 2 crore as commission and sitting fees. KV Kamath, who was appointed to the Reliance board in January 2023, was paid a sitting fee of Rs 3 lakh and a commission of Rs 39 lakh.
Mukesh Ambani's nephews Hital Meswani and Nikhil Meswani are important part of Reliance Industries. Hital Meswani joined RIL in 1990 and has been on the board of Reliance since 1995. According to media reports, Hital's annual salary in the year 2021-22 was Rs 24 crore. At the same time, the salary package of his brother Nikhil Meswani is also the same. Both the brothers are the highest paid executives in Reliance Industries.
Mukesh Ambani, who is Asia’s richest person, has not taken any salary for the financial year 2022-23. Notably, Mukesh Ambani has not taken salary for the last three years. Mukesh Ambani had decided to give up his salary after the COVID-19 pandemic.
