It is time to make way for younger leaders: Is Mukesh Ambani planning to quit?

Digital Desk: Speculations are rife of a major leadership transition in India’s most valued company by market capitalization Reliance Industries Ltd (RIL). Weeks after speculations that RIL Chairman Mukesh Ambani planning of a major succession plans for his children, to take over his $208-billion empire spanning from energy to telecom sector, makes it credible that Mukesh Ambani is speaking of “leadership transition”.

“Achieving big dreams and impossible-looking goals is all about getting the right people and the right leadership. Reliance is now in the process of effecting a momentous leadership transition… from seniors belonging to my generation to the next generation of young leaders,” he said.

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However, no hints have been dropped whether the RIL CMD will himself step down from his post or continue with some other key role at the company.

While speaking at the Reliance Family Day, Mukesh Ambani reiterated that the process of transition should be accelerated with the older generation, and make way for the younger generation.

Reliance Family Day is commemorated as an annual event that marks the birth anniversary of the group’s founder Dhirubhai Ambani.

During his speech, Ambani also said that India will become one of the top three economies in the world and RIL will emerge as one of the strongest, reputed Indian multinational companies in the world.

“We must never become complacent of what we have achieved in the past. Companies that become laid-back because of their previous achievements become footnotes in a history book.

“I would like the story of Reliance to be told in that book which has no final chapter and one which is continually updated with records of bolder initiatives and more glittering successes and where successive generations create even greater societal value and contribute to India’s growth,” added Mukesh Ambani said.

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“We must continuously revisit, iterate, re-iterate and communicate the common philosophy of ‘WE CARE’ that guides and inspires Reliance,” Ambani said on the second imperative.

“This common purpose creates a shared identity for every old and new member of Reliance Family. It strengthens their sense of belonging and their feeling of pride in working for one of the world’s great companies,” he added.

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