Anant Ambani to get ₹10–20 crore salary, profit commission as Executive Director of Reliance Industries

Mukesh Ambani’s youngest son, Anant Ambani, has been appointed as Executive Director of Reliance Industries with a whopping annual salary of ₹10-20 crore plus a host of perks, including a commission on company profits.

The new Executive Director of Reliance

While the Ambani children, Akash, Isha, and Anant, were inducted on the board in 2023 as non-executive directors, the youngest of the three was appointed Executive Director of Reliance Industries Ltd.

As non-executive directors of the oil-to-telecom-and-retail conglomerate, the three were each paid a sitting fee of ₹4 lakh in the 2023-24 fiscal year and a commission on profit of ₹97 lakh each.

Reliance in a stock exchange notice on Sunday said shareholder approval for the appointment has been sought through a postal ballot.

The appointments in 2023 were part of a succession planning at Reliance, which many saw as Mukesh Ambani's attempt to avoid the sibling feud that followed his father's death in 2002.

Isha is on the board of Reliance Retail, Akash chairs telecoms, and Anant is part of the materials and renewable energy ventures.

In the postal ballot, Reliance said Anant's "salary, perquisites and allowances shall be in the range of ₹10 crore to ₹20 crore per annum."

"The perquisites and allowances shall include accommodation (furnished or otherwise) or house rent allowance in lieu thereof; house maintenance allowance together with reimbursement of expenses and/or allowances for utilisation of gas, electricity, water, furnishing and repairs and leave travel concession for self and family including dependents," it said.

It added, "He is responsible for capital projects execution of the company and is closely involved in the planning, execution, and monitoring of ongoing O2C projects in the vinyl chain and speciality polyesters as well as the New Energy Gigafactories."

Anant is a graduate of Brown University and plays an active role on the boards of Jio Platforms and Reliance Retail Ventures. He is also deeply engaged with the Reliance Foundation and is recognised for his contributions to the Vantara initiative, a project dedicated to wildlife rescue and conservation.

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