At the 46th AGM of Reliance Industries Ltd, its Chairman Mukesh Ambani formalised his succession plan at the conglomerate after five years.He said he will mentor his three children Akah, Isha and Anant "so that they can provide collective leadership".

While Ambani didn't say he will step down after five years, he said he will use the next five years to train the next generation leaders. 

"I shall continue to perform my duties and responsibilities as Chairman and Managing Director for five more years, with greater vigour. Towards this end, I have assigned myself three responsibilities.

"First: I shall groom and empower all the Next-Gen leaders at Reliance and prepare them for the challenges and opportunities of the future. 

"Second: I shall especially mentor Akash, Isha and Anant so that they can provide collective leadership and dependably take Reliance to greater heights of growth and value in the decades ahead.

"Third: Together with the Board and all my long-time colleagues, I shall further enrich Reliance’s unique institutional culture, which has sustained your company’s perpetual and exponential growth," said Mukesh Ambani.