Word: mukesh
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
Summers, a co-chair for the annual meeting, was joined by Mukesh D. Ambani, chairman and managing director of India-based Reliance Industries; Peter Brabeck-Letmathe, chairman and chief executive officer of Nestlé in Switzerland; Sir Martin Sorrell, group chief executive of WPP; and London Business School Dean Laura D. Tyson...
...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...
...Behind the scenes, however, the fissures inside Reliance were deepening. Internal company e-mails seen by TIME and excerpted in Indian newspapers suggest that relations between the brothers have been deteriorating rapidly since July, when Anil complained to Mukesh that the powers of the chairman and the managing directors at Reliance Industries had been redefined without his approval. "I sincerely hope ... we will revert to our earlier system of consultations/discussions/mutual consent," Anil wrote. Three months later, the tone of his missives had become more strident. On Oct. 25, Anil shot off a formal letter to Mukesh complaining that...
...Carving up the conglomerate between the brothers is one option, although Reliance's complex ownership structure?the company is controlled by the Ambanis through a web of holding companies?would not make such a division easy. Supporters of the two brothers also disagree about who controls these holding companies?Mukesh, as the chairman of Reliance Industries, or the entire Ambani family. A less painful option than the division of the whole company might be for Anil to be offered a substantial cash settlement and control of some of the smaller companies, in return for his departure from the flagship Reliance...