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A big news has come out of the country’s largest industrial house Reliance Group on Tuesday. Reliance chief Mukesh Ambani has handed over the post of supervisor of Reliance Jio Infocomm Ltd to Akash Ambani in the process of handing over the reins of succession to the next generation. The appointment of Akash Ambani as the chairman of the board of directors of RJIO has been approved with effect from June 27. The stock exchange has been informed about this on behalf of the company on Tuesday.
Last year, Bloomberg had claimed in a report that Mukesh Ambani, the head of Reliance Industries, was preparing to transfer the business to the next generation. That report also said that Mukesh Ambani would follow the model of retail chain Walmart founder Sam Walton in choosing the successor of Reliance Group’s business spanning from oil to telecom. Let us tell you that the founder of Walmart adopted a very simple model in choosing his successor. He had kept the basic mantra of his success plan – keep the family at the center, but keep the management control in different hands.
Mukesh Ambani had said in a program organized on the birthday of his father Dhirubhai Ambani in the year 2021 that now the leadership of Reliance needs to be changed. In this program, he expressed full confidence in his children and said that Reliance will be among the most prestigious and powerful companies in the world in the coming times.
According to reports, Mukesh Ambani wants that in the matter of deciding the successor in his family, there should never be any doubt on the question of succession among the children. Overall, he did not want any such situation to arise between his children, as was the case between him and his younger brother Anil Ambani over the division of the group.
Let us tell you that after the death of Reliance Industries founder Dhirubhai Ambani, Mukesh Ambani took over as the chairman of the group in the year 2002. However, after that there was some conflict between him and his younger brother Anil Ambani regarding the succession, after which the group was split between the two brothers. Mukesh does not want to allow any such situation to arise among his children.
Significantly, apart from Mukesh Ambani’s wife Nita Ambani, his three children Akash, Isha and Anant Ambani play their respective roles in different businesses of Reliance Group. Once Mukesh Ambani has also said about his children that his three children will one day take the legacy of his father Dhirubhai Ambani to the heights.