Isha Ambani is expected to be named chairman of the retail unit of the Reliance conglomerate in another sign that her father, Indian billionaire Mukesh Ambani, is pursuing a plan for succession in one of Asia’s wealthiest families.
An announcement of Isha Ambani’s raise could come as early as Wednesday, according to people with knowledge of the matter, who asked not to be identified ahead of a formal statement. She is currently a director of Reliance Retail Ventures Ltd.
A representative of the group declined to comment.
Isha Ambani’s promotion follows that of her twin brother, Akash Ambani, who was appointed chairman of the telecom unit, Reliance Jio Infocomm Ltd, on Tuesday. Isha and Akash were both part of teams negotiating the investment of Meta Platforms Inc. in the group.
Isha, 30, is an alumnus of Yale University. The twins have a younger brother, Anant, 27.
Reliance Retail and Reliance Jio are subsidiaries of the family’s oil-to-telecom conglomerate, of which Reliance Industries Ltd. with a value of 217 billion dollars is the flagship. Mukesh Ambani is chairman and director of Reliance Industries.