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Money > PTI > Report July 31, 2002 | 1330 IST |
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Mukesh Ambani elected RIL chairmanMukesh Ambani was elected Chairman and Managing Director of Reliance Industries Limited while younger brother Anil was elected Vice-Chairman and MD at the company's board meeting held in Mumbai on Wednesday. Both the elections were unanimous, a company spokesperson said, adding this was the first board meeting of the country's biggest industrial conglomerate in the private sector after group patriarch Dhirubhai Ambani's demise on July 6 this year. The Reliance group is India's largest industrial conglomerate and has a stake in textiles, synthetic fibers, petrochemicals, oil and gas financial services power and telecom sectors. It has the fifth largest refinery in the world at Jamnagar, Gujarat and is India's largest private sector company in terms of sales. The group's revenues for 2001-02 were $13.2 billion. Mukesh and Anil had been working with Dhirubhai in the group for the last 20 years. "Mukesh and Anil have the required experience and they run the company now. Since his first stroke, Dhirubhai had handed over the reins to them and they have been managing the company very capably," a senior company official said. Mukesh, who has a Masters in Business Administration from Stanford University, handles technology, strategy and operations, while Anil, a former alumni of the Wharton Business School, is the public face of the company and looks at all matters financial. The following is the profile of the Mukesh D Ambani, the new Chairman and Managing Director of Reliance Industries Limited. Birthplace: Mumbai, India Date of Birth: April 19, 1957 Education:
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Marital Status: Married to Nita. Has three children: Akash, Isha and Anant. Directorships: Reliance Industries Ltd, Reliance Petroleum Ltd and Reliance Europe Ltd. Chairman of Indian Petrochemicals Corporation Ltd, too. Major group companies: Reliance Industries Limited, Reliance Petroleum Limited. These are India's top two private sector companies. Description of group's business: The Reliance Group, founded by Dhirubhai H Ambani (1932-2002), is India's largest business house with total revenues of Rs 600 billion ($12.3 billion), cash flow of over Rs 75 billion ($1.5 billion), net profit of over Rs 46 billion ($950 million) and exports of Rs 112 billion ($2.3 billion). The group has total assets of Rs 600 billion. Its activities span petrochemicals, synthetic fibres, fibre intermediates, textiles, oil & gas, financial services, refining & marketing, power, insurance, telecom and infocom initiatives. Reliance emerged as India's Most Admired Business House, for the second successive year in a Taylor Nelson Sofres-Mode (TNS-Mode) survey for 2002. ALSO READ:
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