The way has been cleared for the appointment of Akash Ambani, Isha Ambani and Anant Ambani on the board of directors of Reliance Industries. Shareholders have approved the proposal to include these three on the board of directors of Reliance Industries Limited (RIL). According to language news, RIL informed the stock market on Friday that 32-year-old twins Isha and Akash got more than 98 percent votes to be appointed to the board of Reliance, while 28-year-old Anant got 92.75 percent votes. .
Mukesh Ambani will remain chairman for the next five years
According to the news, the purpose of this initiative of Reliance Industries is to speed up the succession plan in India’s most valuable company Reliance Industries. Let us tell you, Reliance Industries Chairman Mukesh Ambani (66) had announced in the company’s annual shareholders meeting in August that his three children – Akash, Isha and Anant – would be included in the Board of Directors (BOD) of Reliance. Ambani had said that he would remain the chairman and CEO of the company for the next five years, focusing on preparing and strengthening the next generation.
There was an appeal to vote against the proposal also
Following the announcement, Reliance Industries sent a postal ballot to shareholders for his appointment as the board of directors of the company. The company announced the results of the shareholders’ vote on Friday. International proxy advisory firm Institutional Shareholder Services Inc (ISS) had recommended that shareholders vote against the proposal to appoint Ambani’s youngest son Anant to the board of directors of Reliance. He had made this appeal citing Anant’s less experience.
Questions on Anant’s appointment at the age of 28
Mumbai-based Institutional Investor Advisory Service (IIAS) had also said that the appointment of Anant (Anant Ambani) at the age of 28 is not as per our voting guidelines. IIAS supported the proposal of appointment of Isha and Akash. Glass Lewis, another international proxy firm, voted in favor of Anant’s appointment. The appointments of the Reliance board of directors are part of the plan to select Anil Ambani’s successor. Anil Ambani was inducted into the board of directors of Reliance in 1977 at the age of 20. After his father’s death in 2002, he had to face conflict with his brother because his father had not made any will.
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