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TMCNet:  Nita Ambani to be inducted in RIL's board [India Business] [Times of India]

[May 21, 2014]

Nita Ambani to be inducted in RIL's board [India Business] [Times of India]

(Times of India Via Acquire Media NewsEdge) MUMBAI: The board of directors of Reliance Industries Limited on Friday recommended the appointment of Nita Ambani, wife of RIL chairman Mukesh Ambani and the chairperson of Reliance Foundation, as a director on the board of the company.


She is being nominated to the board in place of Ramnik H Ambani, who is retiring at the age of 90 years and the approval of the shareholders will be sought in the 40th AGM being held on 18th June 2014, said a company statement.

Over the past two decades, Nita Ambani has made significant contribution to the social sector by leading many path-breaking initiatives spanning education, health, rural transformation, environmental protection and sports. She was at the forefront of the ecological development of RIL's Jamnagar refinery site by implementing a greening plan covering 3.2 million trees over 2000 acres. She also developed a world-class township in Jamnagar, setting new standards in quality of life.

For Reliance Retail, Nita Ambani has made significant contribution by conceptualizing and guiding its corporate identity development across all formats. Her leadership of 13 schools in the Reliance system including India's No. 1 international school - Dhirubhai Ambani International School - is a testament to her commitment to develop centers of excellence in education said the statement.

The recently modernized Sir H N Reliance Foundation Hospital and Research Centre exemplifies her dedication to create world-class healthcare facilities. In a short span of three years, she has taken Reliance Foundation to greater heights of excellence, combining corporate level efficiency and social sector sensitivity. Her professional accomplishments and leadership skills will add significant value to the board of RIL.

RIL shares on BSE gained 2.6% to close at Rs 1081 in a firm Mumbai market on Friday before touching its 52-week high of Rs 1143.

(c) 2014 Bennett, Coleman & Company Limited

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