On Tuesday, Richest Indian Mukesh Ambani mentioned about leadership transition at his energy-to-retail conglomerate. Ambani, 64, previously has never spoken about succession plans at the country’s most valuable company, and recently said that 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, the birth anniversary of the group’s founder Dhirubhai Ambani, he said Reliance Industries Ltd will become one of the strongest and most reputed Indian multinational companies in the world in the upcoming 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. The speech was reported by Ambani-owned news outlet News18.com.
Ambani said an organisational culture must be built at Reliance that outlasts its leaders, as he mentioned “I have no doubt that Akash, Isha and Anant as the next-gen leaders will lead Reliance to even greater heights.”
He said in them, he saw “the same spark and potential” that the legendary industrialist and his father had.
“Let us all wish them good luck in their mission to make Reliance ever more successful with even more transformative initiatives and achieving even greater accolades for our Reliance,” he said.
While mentioning about the spouses of Isha (Anand Piramal) and Akash (Shloka) as well as Radhika, (rumoured to be bride-to-be of Anant). He also mentioned Prithvi, one-year-old son of Akash and Shloka.
Ambani said the time is now to “lay the foundation for Reliance’s future growth over the coming decades” by seizing the humongous opportunity.
“As we enter the second half of Reliance’s Golden Decade, I can tell you that the future of our company looks brighter to me than ever before. I can confidently make two predictions. First, India will become one of the top three economies in the world. Second, Reliance will become one of the strongest and most reputed Indian multinational companies in the world,” he said.
Ambani said despite the Covid-19 pandemic, Reliance has completely re-engineered its energy business. Previously, energy business was confined to oil refining, petrochemicals, fuel retailing and natural gas production, and now, it is investing billions of dollars in setting up clean energy factories.
“Now, Reliance is poised to become a global leader in clean and green energy and materials,” he said. “This transformation of our oldest business will provide us the largest growth engine for Reliance and yet another opportunity for many of you to do things that will be first in the world.”
Reliance Retail has revolutionized organised retail in India, with a presence in both online and physical store formats.
“In the past one year alone, we have onboarded nearly one million small shopkeepers and created nearly one lakh new employment opportunities. This growth engine will continue to create significant societal value by providing unlimited opportunities for our partners and employees,” he said.
Telecom arm Jio has garned over 120 million subscribers and brought fiber to nearly 4 million homes and commercial establishments, regarding which he said, “It has laid the foundation for making India the world’s premier digital society.”
He said that given existing portfolio, growth engines and strong balance sheet, availability of finance and opportunities will be unlimited, while stating that it was time to lay the foundation for Reliance’s future growth just as his father Dhirubhai had laid for today’s Reliance at the beginning of the 1990s.
“What we must focus on is imperative to build an organisation culture capable of translating the opportunity into reality,” he said.
Ambani said for him ‘Reliance as a Happy Family’ has the same importance as the ‘Reliance as a Super-Successful Company’.