InvestorQ : What does Mukesh Ambani setting up a Family Council actually mean?
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What does Mukesh Ambani setting up a Family Council actually mean?

Answer
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Juvina Maggie answered.
2 months ago


Mukesh Ambani plans to set up a Family Council as a joint governance structure to manage the family’s massive holdings in the Reliance group. This is also part of their succession planning. Council will give equal representation to the 3 siblings; Akash, Isha and Anant.

The Reliance group chairman, Mukesh Ambani, plans to complete the succession planning process by end of 2021. The family net worth is getting closer to $100 billion and the time was ripe for a proper structure.

Each member of the Ambani family would hold equal number of shares in RIL. Family Councils are a globally accepted model where decisions are arrived at through consensus. IT is also considered more transparent for large mega corporations.