RIYADH: Reliance Industries, India's biggest retailer, plans to hand over its leadership to the younger generation, its Chairman Mukesh Ambani revealed.
The company, where the Saudi sovereign fund or PIF owns a $1.3 billion stake, operates in the energy business including oil refineries, petrochemicals plants, new energy factories, as well as online e-commerce.
Reliance Industries will become one of the most powerful and well-known Indian multinational corporations in the world in the coming years, with the increasing deployment of clean and green energy, as well as retail and telecom which has reached unprecedented heights, Bloomberg reported citing the Indian billionaire.
“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, talking about his three children.
