Categories: Business

Mukesh Ambani plans to set up a family council | Mukesh Ambani is setting up the family council to decide his successor, the search will be completed by next year

Photo: THE HINDU

Mukesh Ambani plans to set up a family council

new Delhi. Mukesh Ambani, India's first and fourth richest person in the world, is working on a plan to set up a family council to implement a collective governance structure to handle his family business. Two people directly related to the matter said that Mukesh Ambani will also choose his successor through the Family Council. All members of the family will be given equal share in this council. It will include Mukesh and Neeta as well as Akash, Anant and Isha Ambani. Mukesh's three children will take over the reins of Reliance Industries Limited in future.

Sources said that it has been decided to form a Family Council to find Reliance's successor, so that any dispute can be avoided. The family council will consist of one adult member of the family, three children and one external member, who will act as a mentor and mentor. This family council will play an important role in taking any decision in RIL. This council will delegate to each branch in an agreed manner and help in making important decisions related to family and business.

Sources said that 63-year-old Mukesh Ambani wants to complete his successor's search by the end of next year. Mukesh Ambani's motive behind forming this council is that his family should see a clear picture about the Reliance's $ 80 billion property so that there is no dispute in the partition going forward. Mukesh Ambani is moving very cautiously in view of the dispute between Mukesh Ambani and Anil Ambani.

The 80s and 90s, under the leadership of Dhiru Bhai Ambani, was quite impressive for Reliance. But after the death of Dhiru Bhai Ambani in 2002 everything started deteriorating. The two brothers got into a dispute and had to split the business. Communication, power, capital business came on the part of Anil Ambani, while Mukesh Ambani was given the business of Reliance Industries.

After the death of Dhiru Bhai Ambani, his mother himself had to come to the center to settle the dispute that had arisen between the two children. Their dispute surfaced in 2004, after which his mother Kokila Ben split the company in two and gave it to both sons. VK Kamat, the then chairman of ICICI Bank, also had to intervene in this partition. The dispute over the partition between the two brothers lasted for about 4 years.

This post was published on August 14, 2020 12:14 pm

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