Mukesh Ambani’s daughter set to be named chair of Reliance Retail; signalling succession plans

Indian billionaire Mukesh Ambani just got busy with the early stages of succession planning at his energy-to-technology conglomerate Reliance Industries Ltd NSE 0.31 %., naming two of his offspring as chiefs of key units in his $217 billion empire.

On Tuesday, the 65-year-old tycoon made way for his first-born Akash Ambani to become the chairman of India’s No. 1 wireless carrier Reliance NSE 0.31 % Jio Infocomm Ltd

. Akash’s twin sister Isha, 30, is set to be appointed chair of Reliance’s retail arm, and an announcement is expected as early as Wednesday, people familiar with the matter said. The company declined to comment.

While Mumbai-based Reliance has telegraphed such a leadership transition, the move underscores the senior Ambani’s efforts to avert family feuds that have torn many wealthy clans apart, including his own. Bloomberg News reported last year that the mogul’s favored succession plan shares elements with that of Walmart Inc.’s Walton family, a framework that would allow the biggest transfer of wealth in recent times.

Read more at: https://economictimes.indiatimes.com/industry/services/retail/mukesh-ambanis-daughter-isha-set-to-be-named-chair-of-reliance-retail-signalling-succession-plans-in-the-217-bn-group/articleshow/92534671.cms