Reliance’s Ambani Wants to Prevent an Ugly Succession Battle—Again
There is clearly one thing that Mukesh Ambani, chairman of India’s most valuable company, knows about preserving wealth: Avoid succession battles at all costs.
By stepping down Tuesday as chairman of one of Reliance Industries’ largest subsidiaries, Reliance Jio Infocomm, he began the much-awaited transition of power at the $222 billion conglomerate. His elder son, Akash Ambani, took over as the chairman of the subsidiary, India’s top telecom. His daughter, Isha Ambani, will soon be named chairwoman of Reliance’s retail unit, according to Bloomberg and the Economic Times.