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”.
March 14 2011 | Nita Ambani: The Business Royalty Of India | Comments Off