With the promotion of Mukesh Ambani’s first-born son to the chairmanship of Reliance Jio, the group’s telecom business, and his daughter expected to assume a similar position in Reliance Retail, commentators have been praising the group for early succession planning. This exercise is expected to preclude the embarrassing and public clash between Mukesh Ambani and his younger brother, Anil, after the death of their father, Dhirubhai Ambani. This pattern had been the norm in older business groups with the Modis, Shrirams, and Singhanias all suffering messy and acrimonious disputes over control of business assets in the 1980s and 1990s. Bajaj and the K K Birla group stood out as traditional business groups that clarified succession plans decades before the death of the founder, ensuring a frictionless transition. With the Reliance fiasco of the mid-2000s being a cautionary tale, many other groups such as Godrej, TVS, and Emami have made similar early moves to put successors in place since then.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Already a premium subscriber? LOGIN NOW
SUBSCRIBE TO INSIGHTS
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- 26 years of website archives.
- Preferential invites to Business Standard events.