India’s Reliance appoints Ambani children to board in succession plan

BENGALURU: India’s Reliance Industries Ltd on Monday appointed the three children of Chairman Mukesh Ambani as board directors at the oil-to-telecoms conglomerate, as the billionaire prepares to eventually hand over the reins.

Ambani, Asia’s richest person, has previously said his children Isha, Akash and Anant would have significant roles in the business and that Reliance was “in the process of effecting a momentous leadership transition”. Mukesh Ambani was re-appointed as chairman of the company for another five years in July.