Nita Ambani steps down as director of Reliance Industries Limited

Mumbai : Nita Ambani on Monday stepped down as board of director of Reliance Industries Limited, making way for her kids - Isha, Anant and Akash Ambani - to takeover as non-executive directors of the company.

Reliance's board convened prior to the company's annual general meeting, officially endorsing the designation of Isha, Akash, and Anant as "non-executive directors of the company," as stated in a filing to the stock exchange.

"Their appointment will take effect from the date they assume office after approval by the shareholders," a press release by the company stated.

Meanwhile, it has been cleared that Nita Ambani will remain the chairperson for Reliance Foundation. In a statement, the company said that they respect her decision as she would put her energies and devote herself to take Reliance Foundation to a greater heights.

Last year, RIL chairperson Mukesh Ambani made way for his first-born Akash Ambani to become the chairman of India’s largest mobile firm, Reliance Jio Infocomm Ltd.