Mukesh Ambani speaks in succession for 1st time as RIL chief
Mukesh Ambani speaks about leadership transition at his energy-to-retail conglomerate, saying he wants the process to be accelerated with seniors, including him, yielding to the younger generation.
Ambani, who has previously not spoken about succession plans at the country's most valuable company, said Reliance is "now in the process of effecting a momentous leadership transition." Speaking at the Reliance Family Day, which marks the birth anniversary of the group's founder Dhirubhai Ambani, he said Reliance Industries Ltd will become one of the strongest and most reputed Indian multinational companies in the world in the coming years, propelled by forays into the clean and green energy sector as well as retail and telecom business reaching unprecedented heights.
"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.
"All seniors -- myself included -- should now yield to the highly competent, extremely committed, and incredibly promising young leadership talent at Reliance," Ambani said. "We should guide them, enable them, encourage them and empower them... and sit back and applaud as they perform better than us."
He tells that, Reliance now has three verticals -- energy business comprising of oil refineries at Jamnagar in Gujarat, petrochemicals plants and new energy factories and the retail business made up of physical stores and online e-commerce unit in JioMart, and telecom and digital business housed in Jio.
Ambani said the time is now to "lay the foundation for Reliance's future growth over the coming decades" by seizing the humungous opportunity.
"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 will become one of the top three economies in the world. Second, Reliance will become one of the strongest and most reputed Indian multinational companies in the world."
Despite the pandemic, Reliance has completely re-defined its energy business.
Energy business previously was confined to oil refining, petrochemicals, fuel retailing and natural gas production but 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 the largest growth engine for Reliance and yet another opportunity to many of you to do things that will be first in the world."
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 premier digital society," he said.
Therefore, he says that it was time to lay the foundation for Reliance's future growth just as his father Dhirubhai had laid for today's Reliance at the beginning of the 1990s.
"What we must focus on is imperative to build an organisation culture capable of translating the opportunity into reality," he said.
Ambani said for him 'Reliance as a Happy Family' is as important as the 'Reliance as a Super-Successful Company'.