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Anil Ambani says good bye to RIL

June 20, 2005 20:37 IST
Last Updated: June 20, 2005 21:08 IST

The younger Ambani sibling, Anil, on Monday sent an emotional farewell message to all the employees of Reliance Industries, from where he stepped down as vice chairman and managing director on Saturday as part of ownership settlement.

Committed to carry forward the legacy of his father late Dhirubhai Ambani, Anil also exuded confidence in his elder brother Mukesh saying under his "outstanding" leadership, Reliance Industries would continue to grow and flourish and scale ever greater heights.

Terming his decision to step down as vice chairman and managing director of RIL as the 'most difficult decision of my life,' Anil said: "As I look to the future, I am committed to carrying forward my father's legacy in creating a strong, global India enterprise. I am also committed to the highest standards of corporate governance."

Following is the text of his letter:

My Dear Colleagues,

Last Saturday, I took the most difficult emotional decision of my life -- to step down as Vice-Chairman and Managing Director of RIL.

It was a decision which signaled the culmination of an incredible personal and professional journey which began way back in 1982 when my father, the legendary Dhirubhai Ambani, granted me the privilege of working at the Reliance textiles plant in Naroda.

On December 18, I reported for duty as a young management trainee. For the next four years, I worked on the shop floor, and stayed at the employees hostel.

In 1986, DHA suffered a stroke, which brought me back to Mumbai -- to assume much wider responsibilities at Reliance. Mukesh and I, then aged 28 and 26, now had the task of standing shoulder to shoulder with our father in steering the Reliance ship. The two of us struck a partnership that is impossible to forget.

For me, as for many of you, Reliance was everything -- the centre of my universe, the cradle of my corporate life, the great nursery of my learning.

I lived, breathed and dreamt the Reliance dream every waking minute of my life.

When I was single, I was often asked when I was going to marry. My answer: "I am already married -- to Reliance!" It is to Tina's eternal credit that she has gracefully accepted to be my second wife all these years!

Naturally, I leave this great organisation, and all of you, with a deep and abiding sense of personal loss. Life, for me, will never be the same again. But evolution and change are, perhaps, an inevitable part of our karma.

Over the years, I had the opportunity of working closely with so many of you. Without your support, affection and guidance, I would not be where I am today. Without your hard work, dedication and commitment, RIL would not be where it is today -- at the very top of India's corporate pyramid, the centre-piece of our national economic renaissance.

I want to thank each one of you personally for what you have so generously given -- to Reliance as an organisation and me as an individual.

The story of Reliance is, in some ways, the story of one man -- our visionary founder Dhirubhai Ambani -- and his boundless passion. We are all extraordinarily blessed to have had the chance of working under his epochal leadership.

But as I look back, I feel every bit as proud of the role that Mukesh, I and all of you played in translating DHA's dreams into reality. In different ways, we were all co-creators of wealth and value.

The journey we undertook together was momentous. In 1982, the market capitalisation of Reliance Industries was a little over Rs 240 crore. Today, it stands at over Rs 88,000 crore. More than three million shareholders have benefited in the process.

I am confident that under Mukesh's outstanding leadership, and supported by your hard work, dedication and professionalism, Reliance Industries will continue to grow and flourish, and scale ever greater heights.

As I look to the future, I am committed to carrying forward DHA's legacy in creating a strong, global Indian enterprise. I am also committed to the highest standards of corporate governance.

The world, DHA would often say, is a series of orbits, stacked up in a hierarchy. The challenge for all of us is to break out of our present orbits and aspire for higher ones. I see the current juncture as one such change of orbit for both Mukesh and I.

Going ahead, there can no greater tribute to DHA's legacy than for both of us to excel and move to yet higher orbits.

I wish you all the very best for the future, and seek your continued goodwill and blessings as I embark on a new journey in life.

Finally, I look forward to an entirely new dimension in our relationship -- that of all of you as valuable and loyal customers of Reliance Infocomm, Reliance Energy and Reliance Capital!

Yours Faithfully,

Anil D. Ambani

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