Board renewal at Reliance Industries Ltd (RIL)
India’s most valuable company Reliance Industries Ltd (RIL) recently conducted its 46th Annual General Meeting. The board of directors of the company considered and recommended to the shareholders for approval of appointment of Isha Ambani, Akash Ambani and Anant Ambani as Non-Executive Directors of the Company. This decision was made after the recommendation of the Human Resources, Nomination and Remuneration Committee. Their appointment will take effect from the date they assume office after approval by the shareholders. Three siblings have been closely involved with and are leading and managing key businesses of RIL over the last few years including retail, digital services and energy and materials businesses. They also serve on the boards of the key subsidiaries of RIL. The board of directors also accepted the resignation of Nita Ambani from the Board respecting her decision to devote her energies and time to guide and enable Reliance Foundation to make an even greater impact for India. Mukesh Ambani will continue as Chairman and MD of the company for another five years.
Reliance Industries’ consolidated revenues stood at Rs. 9,74,864 crore, while EBITDA for FY23 was Rs. 1,53,920 crore in FY23. The net profit was Rs. 73,670 crore. Reliance set new records in creating employment as it added 2.6 lakh jobs in FY23.
