Mukesh Ambani talks of leadership change at Reliance
Richest Indian Mukesh Ambani on Tuesday referred to the leadership change in his energy-to-retail conglomerate, saying he wants the process to be expedited for the younger generation with seniors including him. Ambani, 64, who has not previously spoken about succession plans at the country’s most valuable company, said Reliance is “now in the process of effecting a significant leadership change.”
The Ambanis have three children – twins Akash and Isha and Anant.
Speaking on Reliance Family Day, which marks the birth anniversary of group founder Dhirubhai Ambani, he said that Reliance Industries Limited would in the coming years become one of the strongest and most reputed Indian multinationals in the world, taking steps in the clean sector. Inspired by. And along with the green energy sector, retail and telecom businesses are reaching unprecedented heights.
“Achieving big dreams and goals that seem impossible is all about getting the right people and the right leadership. Reliance is now in the process of effecting a significant leadership change… from the seniors of my generation to the next generation of young leaders , ” They said.
And this process, he would like to “be faster”.
The company did not immediately respond to an e-mail seeking comment on Ambani’s remarks about the succession.
“All seniors – myself included – must now bow down to the highly capable, extremely committed and incredibly promising young leadership talent at Reliance,” Ambani said.
“We should guide them, enable them, encourage and empower them … and sit back and applaud as they outperform us.”
He did not elaborate.
Reliance now has three verticals – the energy business consisting of oil refineries, petrochemicals plants and new energy factories in Jamnagar, Gujarat, the retail business made up of physical stores and online e-commerce unit at JioMart, and the telecom and digital business based in Jio. ,
Ambani said that an organizational culture should be created at Reliance that goes beyond its leaders.
“I have no doubt that Akash, Isha and Anant will take Reliance to even greater heights as leaders of the next generation.”
In them, he saw “the same spark and potential” that the great industrialist and his father had “to make a difference in the lives of millions and contribute to the development of India.”
“Let us all wish him the best of luck in his mission to make Reliance even more successful with even more transformative initiatives and even more appreciation for our Reliance,” he added.
At the beginning of the speech, he also mentioned about Isha (Anand Piramal) and Akash (Shloka) as well as Radhika’s spouse, who is rumored to be Anant’s bride-to-be.
He also mentioned Akash and Shloka’s one-year-old son Prithvi.
Ambani said the time has come to “lay the foundation for the future growth of Reliance in the decades to come”.
He sounded a caution not to let the guard down saying that while normalcy is slowly returning after the pandemic, there is still uncertainty over the spread of the new variants.
“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 and the world will become one of the top three economies of the world. Second, Reliance will become one of the strongest and most reputed Indian multinationals in the world.”
Ambani said that despite the pandemic, Reliance has completely revamped its energy business.
The energy business was previously limited to oil refining, petrochemicals, fuel retailing and natural gas production. 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 with the biggest growth engine for Reliance and yet another opportunity for many of you to do things that will be a first in the world.”
With a presence in both online and physical store formats, Reliance Retail has revolutionized organized retail in India.
He said, “In the last one year alone, we have added nearly one million small shopkeepers and created nearly one lakh new jobs. This growth engine continues to create significant social value by providing unlimited opportunities for our partners and employees. Will keep.”
Telecom arm Jio has gained over 120 million subscribers and brought fiber to nearly 4 million homes and commercial establishments.
“It has laid the foundation for making India the world’s leading digital society,” he said.
Stating that it is time to lay the foundation for Reliance’s future growth, as his father Dhirubhai had laid for today’s Reliance in the early 1990s, he said the existing portfolio, growth engine and strong balance sheet should be strengthened. Given that, there will be availability of finance and opportunities. Unlimited.
“What we should be focusing on is the imperative to build an organization culture capable of turning opportunity into reality,” he said.
He continued the list of must-dos – never get complacent by achieving sustainable development through constant innovation and re-invention; To continually revisit, iterate, iterate and communicate the general philosophy of ‘We Care’ that guides and inspires Reliance; and self-development.
“Now, a semblance of normality is slowly returning. But this normalcy is still surrounded by uncertainty,” he said.
“That’s why we just can’t afford to lower the guard.”
He said, COVID has taught important lessons, in which health is the real asset, safety first and family first.
“It is in our own hands to earn and maintain this wealth of good health. The ingredients are healthy food, good thoughts, good deeds, yoga, meditation, sports, exercise,” he said.
“During the pandemic, work from home has enabled all of us to spend more quality time with our children, spouse and parents. In the future, technology will offer even more exciting ways of hybrid and virtual work.”
Ambani said that for him, ‘Reliance as a happy family’ is as important as ‘Reliance as a super-successful company’.
Read also | How JioMart has revolutionized consumer ease on WhatsApp: Akash and Isha Ambani explain
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