Nita Ambani to join Reliance Industries board

By: admin | Last Updated: Saturday, 17 May 2014 6:50 AM

Mumbai: Nita Ambani, wife of Reliance Industries chairman Mukesh Ambani, is set to join the board of India’s largest private company, it was announced Friday. The share-holder approval will be sought at the annual general meeting here June 18.

 

The company’s board has recommended her appointment, replacing Ramnik H. Ambani, the elder brother of group’s late chairman Dhirubhai Ambani, who retires at the age of 90 years, having served it since inception.

 

Nita Ambani, who turns 51 in November, was already the chair of non-profit Reliance Foundation, and led the group’s social sector initiatives, spanning health, rural transformation, environment and sports.

 

“She was at the forefront of ecological development of RIL’s Jamnagar refinery site in Gujarat by implementing a greening plan, covering 3.2 million trees over 2,000 acres,” the company said, adding the world-class township there was also her endeavour.

 

Even as Reliance Industries only listed Nita Ambani’s personal contributions to the group, her new role as the first lady member on the board of the $67-billion company would also fulfil a key requirement of the new Companies Act, 2013.

 

Under it, every listed company and those public firms that have a paid up capital of Rs.100 crore or more must have at least one woman director on its board. The rule also applies to companies that have a turnover of Rs.300 crore or over.

 

The company said Nita Ambani also contributed much to conceptualising and guiding its corporate identity, besides developing centres of excellence in the field of education with 13 schools, including the Dhirubhai Ambani International School.

 

A trained bharatanatyam dancer, she recently powered the launch of Indian Super League, a new franchise-based, eight-team football tournament that is styled on the lines of Indian Premier League of the cricketing world.

 

There was speculation earlier that Nita and Mukesh Ambani’s 22-year-old daughter, Isha, who is an alumna of Yale University and has been a consultant with McKinsey, could be asked to play a bigger role in the company.

 

More so because in recent years the group has been aggressive in areas that will appeal to the youth, such as retail, lifestyle, entertainment, appliances and electronics, and now 4G telephony and broadband.

First Published: Saturday, 17 May 2014 6:50 AM

Related Stories

In Graphics: Karishma Tanna gets injured while rehearsing for 'Jhalak'
In Graphics: Karishma Tanna gets injured while rehearsing for 'Jhalak'

Colors famous Dance reality show Jhalak journey is a not an easy one  to take. To give their

In Graphics: ‘Balika Vadhu’ actors in Star Plus show
In Graphics: ‘Balika Vadhu’ actors in Star Plus show

Colors TV’s show Balika Vadhu was one of the longest running show which ended few weeks ago.

Acharya k Nuskhe: Regular use of Dudhi gives you lustrous and thick hair
Acharya k Nuskhe: Regular use of Dudhi gives you lustrous and thick hair

Acharya k Nuskhe: Regular use of Dudhi gives you lustrous and thick hair For latest breaking news,

Here are 100 big stories of the day
Here are 100 big stories of the day

Here are 100 big stories of the day For latest breaking news, other top stories log on to:

Big B to host 'Savdhaan India'
Big B to host 'Savdhaan India'

Mumbai: Megastar Amitabh Bachchan will be back on the small screen as a host for a special episode of the TV show

Eijaz Khan roped in for 'Bahu Humari Rajni_kant'
Eijaz Khan roped in for 'Bahu Humari Rajni_kant'

Mumbai: Actor Eijaz Khan has been approached to step in as the male lead in the TV show “Bahu Humari

Two years after DEATH, Yeh Rishta Kya Kehlata Hai actor gets JUSTICE
Two years after DEATH, Yeh Rishta Kya Kehlata Hai actor gets JUSTICE

New Delhi: TV actor Rakesh Diwana who portrayed the character of ‘Maharajji’ in Star Plus’

Anita Hassanandani aka Shagun becomes a MILLIONAIRE!
Anita Hassanandani aka Shagun becomes a MILLIONAIRE!

New Delhi: Here comes a big news for Anita Hassanandani aka Shagun of ‘Yeh Hai Mohabbatein’ fans. Well,

Another TV couple enters BREAK-UP diaries 2016; Neha Sargam -Neil Bhatt no more together
Another TV couple enters BREAK-UP diaries 2016; Neha Sargam -Neil Bhatt no more together

New Delhi: Rumour has it!  After Aashka Goradia-Rohit Bakshi, Rati  Pandey-Anas Rashid , another popular TV

scorecard

ABP Live Newsletters