(Image source from: Forbesindia.com)

Mukesh Ambani is in Search of the Right Successor:- Reliance Industries Ltd (RIL) is on the top and Mukesh Ambani established an empire that cannot be defeated anytime soon. There are ongoing discussions about the successors in the empire from their families to ensure that the business goes on a smooth pace. With their business increasing on a regular basis, the legal experts are looking up for all the options. Mukesh Ambani, the fourth richest man in the world is keen to set up a family council to implement a collective governance structure to maintain the family business empire. The family council will give importance to all the members of the family including their children: Akash, Isha and Anant. They are expected to take over the legacy if Reliance Industries Limited from Mukesh Ambani.

Mita Dixit, co-founder and head of family business advisory at Equations Management said that the entire family wants to be transparent about the investments, profits, balance sheets and make a clear-cut demarcation of the business verticals. Reliance can have only one Managing Director but the rest of them would have to know about how the business is developing. 70% of the top 500 companies in India are head by their family said Mita Dixit. Mukesh Ambani is also focused on the promoters and the investors. He is keen to avoid the conflict between the future generations to stand in the business. Reliance Industries is looking for a plan to ensure that the business happens at a smooth pace in the coming few years.