Mukesh Ambani re-appointed RIL Managing Director

Shareholders of Reliance Industries (RIL) have re-appointed Mukesh D. Ambani as the company`s Managing Director for a period of five years commencing from April 19, 2019. According to a regulatory filing on the BSE, RIL revealed that the decision was taken by the shareholders at the company`s 41st annual general meeting (AGM) held here recently.

Over 98.50 per cent of shareholders voted in favour of the ordinary resolution to re-appoint Ambani, who also holds the post of Chairman, RIL. Ambani, who is the richest Indian, has kept his annual compensation unchanged at Rs 15 crore for the 10th consecutive year. His compensation includes salary and allowances, perquisites, retiral benefits, and commission payable.

In addition, shareholders also approved the company`s plan "to offer or invitation to subscribe to redeemable non-convertible debentures on private placement", of an aggregate nominal value up to Rs 20,000 crore.