Word: anill
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...words. On Nov. 19, India's newspapers carried front-page reports that Mukesh Ambani, the 47-year-old son of Dhirubhai and the chairman of Reliance Industries, the group's flagship petrochemicals and oil venture, had admitted to "ownership issues" at the company, which he and younger brother Anil, the vice chairman, had been running since their father's death in July 2002. For four days speculation ran amok in the Indian press that the brothers had started sparring over control of Reliance. On Nov. 22, Mukesh issued a statement saying that his words had been "torn out of context...
...Details of the dispute remained sketchy at the week's end. A number of India's family-run companies have seen nasty internal squabbles. So there have always been some in Bombay's financial circles who thought it inevitable that Reliance, too, would one day be riven. Mukesh and Anil?who are together worth $6 billion and whose families live together in an exclusive downtown-Bombay residential tower called Sea Wind?appear to be opposites in temperament. Mukesh, the cerebral strategist, dodges the limelight, concentrating on passions such as vegetarian food, watching Hindi movies and raising a family. Anil...
...their differences, in the two years following the patriarch's death, there was no outward sign of disharmony between the brothers. Reliance aggressively branched out of its core industrial sectors into telecommunications, oil exploration and power generation. As co-managing directors at Reliance Industries, Anil handled finance while Mukesh oversaw strategic projects. The pair found a safe vent for sibling rivalry by creating distinct fiefdoms among Reliance's smaller subsidiaries. Under Mukesh, Reliance entered the highly competitive mobile-phone market and quickly garnered a subscriber base of more than 7 million, becoming the country's largest wireless carrier. Anil directed...
After Dhirubhai died in July 2002, his sons, Mukesh and Anil (estimated combined net worth: $2.8 billion), took control. They have been on an expansion tear ever since, successfully bolstering Reliance's presence in power generation, oil exploration, finance and biotech, and consolidating the company's position as a leading player in India's fast-growing telecom sector. With revenues of $16.8 billion, Reliance last year accounted for 3.5% of India's GDP. So confident are Indians in the firm's future that 1 out of every 4 stock-owning citizens hold Reliance shares...
That's a large cheering section, especially considering the doubts voiced after Dhirubhai's death. Mukesh, 46 and chairman of the group's flagship Reliance Industries, and Anil, 44, its vice chairman, seemed so different from their father, a self-made man famed for his ability to work India's byzantine bureaucracy to his advantage. Some wondered whether the high-born brothers could even work together. The flashy Anil, who is married to a former film actress, likes designer clothes and jogs every morning, his chauffeur driving slowly behind. Mukesh is sedate and prefers spending time with his children...