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Laying out the succession plan for Reliance, Mukesh Ambani, RIL Chairman and Managing Director handed over the reins to his children Akash, Isha and Anant. While Akash will head telecom, Isha will lead retail, and youngest son Anant will look after the new energy unit.

Mr Ambani, however, insisted he isn’t retiring yet and will “continue to provide hands-on leadership as before”. At the annual shareholders’ meeting of Reliance Industries, he said the robust architecture that he has announced will ensure the firm remains “a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines.”

“Akash and Isha have assumed leadership roles in Jio and Retail respectively. They have been passionately involved in our consumer businesses since inception,” he said. “Anant has also joined our new energy business with great zeal. In fact, he is spending most of his time in Jamnagar.”

So far only Akash has been made functional head of a company, while the other two are on boards.

“All three have fully inherited our founder’s (Dhirubhai’s) mindset. They are first among equals in a young team of leaders and professionals who are already doing amazing things at Reliance. Of course, all of them are being mentored on a daily basis by our senior leaders, including myself and the board of directors,” he said.

In June, Akash, 30, was made the chairman of Reliance Jio Infocomm, a subsidiary of Jio Platforms. Jio Infocomm is the firm that holds telecom licences but Mukesh Ambabi continues to be the chairman of Jio Platforms, the firm in which global technology giants like Google and Facebook owner Meta have invested. The senior Ambani also continues to head RRVL.