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NEW DELHI: Dependency Industries Ltd has asked shareholders for the appointment of Mukesh Ambani’s three children to the company’s board of directors.
According to a resolution of RILAkash and Isha (both 31) and Anant (28) will receive compensation only in the form of allowances for attending board and committee meetings, PTI reported.
Mukesh Ambani (66) himself has not received a salary from the company since the 2020-2021 financial year.
In contrast, other executive directors, including his cousins Nikhil and Hital, receive a combination of salary, benefits, allowances and commissions.
The pay structure for Ambani’s children mirrors that of his wife Nita, who joined the company’s board of directors in 2014.
Nita earned a sitting fee of Rs 6 lakh and a commission of Rs 2 crore during the financial year 2022-2023, as reported in the company’s latest annual report.
In a recent announcement at the company’s annual shareholders meeting, Mukesh Ambani confirmed the induction of his three children into Reliance’s board of directors (BoD).
He also reiterated his commitment to remain chairman and CEO of the company for another five years, with a primary focus on mentoring and empowering the next generation of leaders.
Reliance has initiated a postal vote to seek shareholder approval for the appointment of Akash, Isha and Anant as board members.
According to the notice to shareholders, their compensation includes allowances for attendance at board and committee meetings, expense allowances for participation in meetings and profit-related committees.
Mukesh Ambani initially introduced the succession plan for the conglomerate in 2022, with each of his three children taking charge of different divisions within the company.
Akash will head the telecom division, Isha will oversee retail and Anant will lead the new energy business.
However, the succession plan for the core oil-to-chemicals (O2C) division remains secret.
(With inputs from PTI)
According to a resolution of RILAkash and Isha (both 31) and Anant (28) will receive compensation only in the form of allowances for attending board and committee meetings, PTI reported.
Mukesh Ambani (66) himself has not received a salary from the company since the 2020-2021 financial year.
In contrast, other executive directors, including his cousins Nikhil and Hital, receive a combination of salary, benefits, allowances and commissions.
The pay structure for Ambani’s children mirrors that of his wife Nita, who joined the company’s board of directors in 2014.
Nita earned a sitting fee of Rs 6 lakh and a commission of Rs 2 crore during the financial year 2022-2023, as reported in the company’s latest annual report.
In a recent announcement at the company’s annual shareholders meeting, Mukesh Ambani confirmed the induction of his three children into Reliance’s board of directors (BoD).
He also reiterated his commitment to remain chairman and CEO of the company for another five years, with a primary focus on mentoring and empowering the next generation of leaders.
Reliance has initiated a postal vote to seek shareholder approval for the appointment of Akash, Isha and Anant as board members.
According to the notice to shareholders, their compensation includes allowances for attendance at board and committee meetings, expense allowances for participation in meetings and profit-related committees.
Mukesh Ambani initially introduced the succession plan for the conglomerate in 2022, with each of his three children taking charge of different divisions within the company.
Akash will head the telecom division, Isha will oversee retail and Anant will lead the new energy business.
However, the succession plan for the core oil-to-chemicals (O2C) division remains secret.
(With inputs from PTI)
