Top News

Anant Ambani the youngest son of billionaire Mukesh Ambani has become the first among his three siblings to be appointed as an Executive Director of Reliance Industries the groups flagship company. According to a shareholder notice he will receive an annual salary of Rs 10-20 crore along with various perks including a commission on company profits. While all three of Mukesh Ambanis children twins Akash and Isha and Anant were inducted as non-executive directors on the board of the oil-to-telecom-to-retail conglomerate in 2023 Anant was elevated to the role of Executive Director in April this year. The appointments in 2023 were part of a succession planning at Indias most valuable company which many saw as Ambanis attempt to avoid the sibling feud that followed his fathers death in 2002. Isha is on the board of Reliance Retail and joined that of the newly spun-off Jio Financial Services Akash chairs telecoms. Anant is part of the materials and renewable energy ventures. They operate alongside professional managers. Anant Ambani Salary Allowances & Perks In the postal ballot Reliance said Anants salary perquisites and allowances shall be in the range of Rs 10 crore to Rs 20 crore per annum. The perquisites and allowances shall include accommodation (furnished or otherwise) or house rent allowance in lieu thereof; house maintenance allowance together with reimbursement of expenses and/or allowances for utilisation of gas electricity water furnishing and repairs and leave travel concession for self and family including dependents it said. He shall also be entitled to reimbursement of expenses incurred for travelling boarding and lodging including for his spouse and attendant(s) during business trips and provision of car(s) for use on companys business and communication expenses at residence. He shall also be entitled to medical reimbursement as well as company-arranged security for him and his family members. In addition to the salary perquisites and allowances Anant M. Ambani shall be entitled to receive remuneration based on net profits the notice said. Anand Ambani Isha Ambani Akash Ambani Roles In Reliance Mukesh Ambani’s eldest son Akash joined the leadership team at the groups telecom unit Jio in 2014 after completing college. He was made the chairman of the telecom arm Jio Infocomm in June 2022. He also manages the Mumbai Indians cricket team in the cash-rich Indian Premier League. Isha drives the companys retail e-commerce and luxury businesses. She is said to be behind the firms expanding presence in fashion through the companys e-commerce app as well as its growing partnerships with top international luxury brands. Anant is involved in Reliances energy businesses which range from fossil fuels to developing solar panel manufacturing. A graduate of Brown University he also serves on the board of Reliance Foundation - the groups philanthropic arm - alongside his mother. All three children are on board of Jio Platforms the unit that holds telecom and digital properties of Reliance and Reliance Retail. Anant M. Ambani serves as a director on the Board of the company and its key subsidiaries Jio Platforms Limited Reliance Retail Ventures Limited the Reliance notice said. He has been a part of the Reliance Group since 2015 and over the last decade he has had exposure to key facets of the oil-to-chemical (O2C) business including crude sourcing refinery and downstream unit operations and supply and trading of products. Anant Ambani is responsible for capital projects execution of the company and is closely involved in the planning execution and monitoring of ongoing O2C projects in the vinyl chain. He is also involved in the activities of Sir H.N. Reliance Foundation Hospital and Vantara - an initiative to rescue protect and conserve wildlife the notice said. The appointment of Shri Anant M. Ambani will be in the interest of the company.  (With Inputs From PTI)