Reliance board has sought approval to extend Mukesh Ambani’s tenure as chairman and MD by 5 years. If this approval is received, then Mukesh Ambani will continue to hold the post of MD and Chairman of the company till 2029. He has remained in this post since the death of father Dhirubhai Ambani.
Reliance Industries, the country’s most valuable company, has sought approval from the shareholders to make Mukesh Ambani the chairman and MD of the company for the next five years i.e. till 2029. During this, Mukesh Ambani will not take any kind of salary from the company. Please tell, at present Mukesh Ambani’s age is 66 years. According to the Companies Law, if the Chief Executive of a company has to continue as the head of the company even after 70 years, then a special resolution is required to appoint him.
If this proposal is approved, Mukesh Ambani’s new term as MD and Chairman will be effective from April 19, 2024.
What was said in the special resolution: This special resolution from Reliance said that Mukesh Ambani would be 70 years old by April 19, 2027. The company has grown manifold under his leadership. It would be in the interest of the company that he continues to lead the company. For this reason, it is proposed to extend his tenure for another 5 years.
Mukesh Ambani on the board of Reliance since 1977 Mukesh Ambani has been on the board of Reliance since 1977 and became the company’s chairman in 2002 after the death of his father Dhirubhai Ambani. Since then till now he has been continuously in this post. During his tenure, the company has been able to increase its market cap, profits and earnings manifold.
Salary not taken after Corona From the financial year 2008-09 to the financial year 2019-20, Mukesh Ambani used to get a salary of Rs 15 crore annually from Reliance, but he left it due to Corona.