Shareholders’ nod for Ambani scions

New Delhi: Billionaire Mukesh Ambani's three children won approval of shareholders for being part of the board of Reliance Industries Ltd, setting in motion a succession plan at India's most valuable company. While twins Akash and Isha, 32, got more than 98 per cent of the votes for a board seat, Anant, 28, whose appointment had been opposed by proxy advisory firms because of his young age, managed to get 92.7 per cent votes, according to a stock exchange filing of the company.

Company chairman Mukesh Ambani, 66, had at the company's annual shareholders meeting in August announced that his three children Akash, Isha and Anant would be inducted into Reliance's board of directors (BoD). He had also stated that he would continue to be the chairman and CEO of the company for five more years, with a focus on grooming and empowering its 'next-gen' leaders. Thereafter, Reliance sent out a postal ballot to shareholders seeking a nod for their appointment as board of directors of the company.