India’s largest private sector company Reliance Industries will appoint its chairman Mukesh Ambani’s wife Nita Ambani as a director on the board. Nita Ambani, who currently heads Reliance Foundation, will replace RIL’s 90-year old long-serving director Ramnik H Ambani who is due to retire. RIL will seek shareholders’ approval for Nita’s appointment on June 18, said a release from the company. Nita Ambani’s nomination to the board comes at a time when she is playing a bigger role in the company. Nita has transformed Reliance Foundation into a organisation with 1000 employees four years after Mukesh Ambani had announced his desire to set up the foundation. The non-profit body is focusing on rural transformation, healthcare and education.
Read the Economic Times news report here.