Another indication that her father, Indian billionaire Mukesh Ambani, is moving on with a plan for succession in one of Asia’s wealthiest families is that Isha Ambani is about to be named chairman of the Reliance conglomerate’s retail unit.
According to informed sources who declined to be named before a formal announcement, Isha Ambani’s promotion could be announced as soon as this Wednesday. Reliance Retail Ventures Ltd. currently has her as a director.
A group spokeswoman declined to comment.
Isha Ambani’s ascension comes after that of her twin brother Akash, who was named chairman of the telecom division, Reliance Jio Infocomm Ltd., on Tuesday. Isha and Akash were both a part of the teams that negotiated the group’s investment by Meta Platforms Inc.
Isha, 30, is a Yale University alumnus. Anant, the twins’ younger brother, is 27 years old.
The family’s oil-to-telecom conglomerate, of which the $217 billion Reliance Industries Ltd. is the flagship company, also includes Reliance Retail and Reliance Jio as subsidiaries. Reliance Industries chairman and managing director is Mukesh Ambani.