EIH to Nominate Nita Ambani as Board Member
EIH Limited, a member of The Oberoi Group, has sent a special invite to Nita Ambani to attend its board meeting. Sources have revealed that Nita Ambani would be nominated as the board member. The role will be of a non-executive nature.
Reliance Industries Limited holds 14% stake in EIH Limited, which runs the Oberoi and Trident chains. Nita Ambani is closely associated with Mukesh Ambani owned RIL’s increased focus on services to the nation. Reliance accounts for more than 50% of India’s Gross Domestic Product (GDP).
The EIH board has 8 directors, including the chairman PRS Oberoi, his son Vikram and nephew Arjun. The inclusion of Mrs. Ambani on the board is a step towards fostering and cementing Oberoi family’s relationship with the Ambani family, according to analysts. Himani Singh, a senior analyst at Mumbai-based brokerage firm Elara Capital said,” Giving a board seat to RIL will not make much of an operational difference to the company since it enters as a strategic investor”.
Nita Ambani’s public role has increased manifold over the last couple of years. She entered the public life when she set up the Dhirubhai Ambani InternationalSchool in 2003. However, it is said that she has helped in designing the township at Jamnagar, where RIL has built the world’s largest refinery.
RIL officials say that Mrs. Ambani supervised the execution of projects involving setting up schools, parks and shopping complexes which cater to over 2,500 families. Business historian Gita Piramal added, "She has had enormous experience in creating big projects. It is coming out in the public realm now. She was involved in RIL's Jamnagar Township. She had put a lot of soul in the project. She has an eye for detail and this would help her in the hospitality business”.
Recently, Nita Ambani joined RIL’s foray into sports, as a board member of RIL’s joint venture with IMG. She manages the American Sports Major’s Indian arm and aims at building an academy to train coaches and athletes.
Nita Ambani has proved her managerial skills as the co-owner of Mumbai Indians. After a poor performance in the 1st and 2ndIPL, her team emerged as the runner-up in the 2010 IPL.The Mumbai Indians recently played victoriously and bagged the CLT20 championship 2011.
RIL’s last general meeting announced that Reliance Foundation would set up a private university. It is said that the private university will be run by Mrs. Ambani. Nita Ambani certainly plans to make more contributions to her public life.
Tags: Mukesh Ambani , Reliance , Reliance Industries , RIL , Nita Ambani , Lt , Gt , P
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