Anant Ambani to Earn Rs 10-20 Crore Salary as Executive Director of Reliance Industries

Anant Ambani, the youngest offspring of billionaire Mukesh Ambani, has been appointed as an Executive Director at Reliance Industries. He will receive an annual salary between Rs 10 crore and Rs 20 crore, along with various perks, including a commission on company profits. This information was disclosed in a shareholder notice. Anant's appointment marks a significant step in the succession planning of India's most valuable company.

In 2023, Mukesh Ambani announced that his three children would join the board of the oil-to-telecom conglomerate as non-executive directors. This move was part of a strategy to ensure smooth succession and avoid conflicts similar to those after his father's passing in 2002. Anant, Isha, and Akash Ambani were inducted into the board as non-executive directors, each receiving a sitting fee of Rs 4 lakh and a profit commission of Rs 97 lakh during the fiscal year 2023-24.

Executive Roles and Responsibilities

As an Executive Director, Anant will receive a salary and additional benefits. These include accommodation or house rent allowance, maintenance allowances, and reimbursement for utilities like gas and electricity. He will also have leave travel concessions for himself and his family. The company will cover expenses for travel, boarding, lodging during business trips, and provide cars for company use.

Anant's responsibilities extend to Reliance's materials and renewable energy ventures. He is actively involved in capital projects execution and oversees ongoing projects in the vinyl chain and speciality polyesters. Additionally, he plays a crucial role in planning and monitoring New Energy Gigafactories. His involvement in these areas highlights his significant contribution to the company's growth.

Family Involvement in Reliance

Isha Ambani serves on the boards of Reliance Retail and Jio Financial Services. She is instrumental in expanding the company's retail, e-commerce, and luxury sectors. Her efforts have strengthened partnerships with international luxury brands through the company's e-commerce platform. Meanwhile, Akash Ambani chairs the telecom division and manages the Mumbai Indians cricket team.

Anant has been part of Reliance since 2015, gaining experience in various aspects of the oil-to-chemical business. His exposure includes crude sourcing, refinery operations, and product supply and trading. He also contributes to philanthropic activities through the Reliance Foundation alongside his mother.

Educational Background

Unlike their father Mukesh Ambani, who left Stanford University to join his father's business, Isha and Akash completed their education at Yale and Brown universities respectively. Akash joined Jio's leadership team in 2014 after college and became chairman of Jio Infocomm in June 2022.

Anant graduated from Brown University and is involved with Reliance Foundation Hospital and Vantara, an initiative focused on wildlife conservation. His educational background complements his roles within Reliance Industries.

The shareholder notice stated that Anant's appointment as Executive Director aligns with the company's interests. His remuneration package includes medical reimbursement for him and his family members, along with company-arranged security services.

With inputs from PTI