For months, the world has been captivated by the last season of Succession, the Emmy-winning TV drama on the lives of the corporate élite.
But in India, a real-life succession plan, involving a fortune of billions of dollars, is making news.
The three children of Mukesh Ambani, Asia’s richest man and head of Reliance Industries, have now taken seats on the board of his expansive $220bn (£173bn) retail-to-refining conglomerate.
Twins Isha and Akash, 31, and Anant, 28, will join the board following shareholder approval. “The combination of the experience of senior leaders and the ambition of new leaders will script newer and more exciting chapters in Reliance’s every growing book of achievements,” Mukesh Ambani said in a statement on Monday.
This transition signifies the company’s entry into its third generation of family leadership in what is perhaps corporate India’s most anticipated succession plan.
With a sprawling business empire which ranges from oil, telecoms, chemicals, technology, and fashion to even food – the Ambanis are a ubiquitous presence in India, and everything the family does has been the subject of intense public fascination.
The children have their task cut out.
The group plans to enter general and health insurance possibly in partnership with global firms. It is planning to introduce 5G wireless broadband services in 200 million homes and develop 2,000 megawatts of AI-ready computing capacity.
