New Delhi: Mukesh Ambani, the owner of India’s most valuable business company, has been handling his reign over his children with care. He resigned from the board of his $217-billion group’s telecom arm, Reliance Jio, and handed over the responsibility to his elder son, Akash.
It is time for daughter Isha Ambani, who is expected to be named chairman of the Reliance conglomerate’s retail unit. Mukesh Ambani has been pushing the succession plan.
The name of Isha Ambani is likely to be declared as early as Wednesday, as per the people with knowledge of the matter. Currently, she is the director of Reliance Retail Ventures Ltd. Meanwhile, a group representative has declined to comment regarding the matter.
Isha Ambani’s promotion has taken place after her brother, Akash Ambani, was appointed as chairman of the telecom unit on Tuesday, Reliance Jio Infocomm Ltd. Isha and Akash have both been part of teams that negotiated Meta Platforms Inc.’s investment in the group.
Isha, 30, did her schooling in Mumbai and then moved to the USA for higher education. She completed her education at Yale University.
Reliance Retail and Reliance Jio are subsidiaries of the family’s oil-to-telecom conglomerate, of which the $217 billion Reliance Industries Ltd. is the flagship firm. Mukesh Ambani, who is the chairman and managing director of Reliance Industries.