JULY 17, 2023
Big conglomerates are built on the back of not just business acumen but loyalty and trust. Known as the most influential person in Reliance Industries Limited outside the founder family, PMS Prasad is one of the oldest employees at th business group and one of Mukesh Ambani’s most trusted deputies. PMS Prasad is also known to be the senior-most in the group’s operational hierarchy apart from the RIL chairman himself.
Panda Madhusudana Siva Prasad is an Executive Director of RIL and among the core group of business leaders helming different aspects of the mega empire of Asia’s richest man. An engineer by educational qualification, PMS Prasad joined Reliance when founder and legendary businessman Dhirubhai Ambani was running the show. A Guntur, Andhra Pradesh native, Prasad has served in various leadership roles in his 4-decade long career at the group, including CEO of Reliance Petroleum Limited.
It was Mukesh Ambani who promoted Prasad as CEO. He was tasked with setting up the group’s flagship petroleum refinery in Jamnagar, Gujarat. Prasad led the team that established the largest refinery in the world. He was also key to the successful and market dominating rollout of Reliance Jio.
In the list of Board of Directors on RIL website, PMS Prasad is the fifth name, after only Mukesh Ambani, wife Nita Ambani and nephews Hital and Nikhil Meswani. He has been the company’s Executive Director since 2009. H serves as director of various Ambani businesses including Network18 Media & Investments Limited, TV 18 Broadcast Limited, Reliance BP Mobility Limited, Viacom 18 Media Private Limited and Reliance Commercial Dealers Limited.
As per RIL Annual Report 2021-22, Prasad was the third highest-paid Executive Director of the company with a total remuneration of Rs 11.89 crore. He stands only behind Nikhil and Hital Meswani who received Rs 24 crore each. It is to be noted that Prasad would be the top-paid employee in terms of salary and allowances, receiving Rs 11.51 crore in FY22. Nikhil And Hital Meswani received a majority of their remuneration as commission payable.
Courtesy/Source: DNA / PTI