Advisory Firm Tells Investors To Vote Against Anant Ambani’s Appointment On RIL Board

New Delhi: Proxy advisory firm Institutional Investor Advisory Services (IiAS) has recommended that institutional investors should vote against the appointment of Anant Ambani on Reliance Industries’ (RIL’s) board, stating his age as the reason. However, the advisory firm, in a note, recommended voting for Isha Ambani and Akash Ambani, both 31, Business Standard reported.

According to IiAS voting guidelines, it will recommend voting for the appointment of any director (among other criteria) unless the director lacks adequate experience. That is less than 10 years of relevant work experience or less than 30 years of age. (IiAS will make exceptions to this rule when the director is a first-generation promoter or founder).