Reliance Industries Chairman Mukesh Ambani hints at leadership transition for the first time
Mumbai : Billionaire Mukesh Ambani has for the first time talked about leadership transition at his energy-to-retail conglomerate, saying that its time when younger generation must be given opportunity.
Mr Ambani, 64, who has previously not spoken about succession plans at the country's most valuable company, said Reliance is "now in the process of effecting a momentous leadership transition." Ambani has three children - twins Akash and Isha, and Anant.
Speaking at the Reliance Family Day, which marks the birth anniversary of the group's founder Dhirubhai Ambani, he said Reliance Industries Limited (RIL) will emerge as the strongest and most reputed Indian multinational companies in the world in the coming years.
"Achieving big dreams and impossible-looking goals is all about getting the right people and the right leadership. Reliance is now in the process of effecting a momentous leadership transition... from seniors belonging to my generation to the next generation of young leaders," he said.
And this process, he would like "to be accelerated." The speech was reported by a Ambani-owned news outlet.
"All seniors - myself included - should now yield to the highly competent, extremely committed, and incredibly promising young leadership talent at Reliance," Mr Ambani said. "We should guide them, enable them, encourage them and empower them... and sit back and applaud as they perform better than us."