Nita Ambani Resigns From RIL’s Board; Isha, Akash, Anant Ambani Proposed As Non-Exec Directors

SUMMARY

Nita Ambani has tendered resignation from RIL board as she wants to focus her time on the Reliance Foundation, the company said

Nita Ambani would continue to attend all the board meetings of RIL as a permanent invitee to the board as the chairperson of the Reliance Foundation

Isha, Akash and Anant Ambani have been managing key businesses of RIL over the last few years including retail, digital services and energy and materials businesses

Reliance Industries Limited (RIL) on Monday said its board has recommended the appointment of Isha Ambani, Akash Ambani, and Anant Ambani as the non-executive directors of the company. Their appointment will take effect from the date they assume office after approval by the shareholders.

Besides, the company also said that its board has accepted the resignation of Nita Ambani. Nita Ambani has tendered resignation as she wants to focus her time on the Reliance Foundation, the company said.

However, she would continue to attend all the board meetings of RIL as a permanent invitee to the board as the chairperson of the Reliance Foundation.

Isha, Akash and Anant Ambani have been managing key businesses of RIL over the last few years including retail, digital services and energy and materials businesses.

While Isha is driving the expansion plans of Reliance Retail, Akash is the chairman of Reliance Jio Infocomm Limited. Anant Ambani is driving the expansion of energy and materials businesses of Reliance Industries.

All three also serve on the boards of the key subsidiaries of RIL.