Ambani prefers to deter succession warfare that has broken apart several wealthy clans, including his own in the past. The shift at Reliance will mark one of the largest transfers of wealth in the present world. Mukesh Ambani stated that all senior leaders should “yield to the highly competent, extremely committed and incredibly promising talent” at the Reliance industries. Mr. Ambani is mellowing leadership transition at his empire after battling a vicious succession battle with his younger brother, Anil Ambani when they lost their father in 2002 without a will. The battle was so fierce that their mother, Kokilaben Ambani, had to step in and build a family pact in 2005 that divided up Reliance businesses between the two brothers. While Mr. Ambani hasn’t publicly revealed any proposal or timeline to walk away from his duties as Reliance’s chairman and managing director, his children are becoming more noticeable.
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While addressing the shareholders in June, he initially implied that twins Akash and Isha, 30, with their younger sibling Anant, 26, would be a significant part of the company. Ambani announced despite the pandemic, Reliance has entirely re-engineered its energy business. Energy business formerly was constrained to oil refining, petrochemicals, fuel retailing, and natural gas production. Presently, it is capitalizing billions of dollars in establishing clean energy factories. “Now, Reliance is poised to become a global leader in clean and green energy and materials,” he explained. “This modification of our oldest business will give us the largest growth engine for Reliance and yet another opportunity for many of you to do things that will be first in the world.” They have a presence in both online and physical store formats, Reliance Retail has revolutionized organized retail in the country.
