Kundapur Vaman Kamath was appointed as an independent director of Reliance Industries for a period of five years in 2022 by Mukesh Ambani, the chairman and managing director of Reliance Industries.
Mukesh Ambani is the richest man in India with a net worth of more than Rs 920239 crore and he has been leading the list of richest Indians for quite a long time now. He is the chairperson of Reliance Industries which is the most valuable company in India with a market cap of Rs 1898000 crore. Mukesh Ambani is often lauded for his vision, risk-taking abilities, and business mindset. To take the company to these heights, Mukesh Ambani got support from many people, one such person is Kundapur Vaman Kamath.
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K V Kamath is a distinguished member of Reliance’s Board. In 2022, Mukesh Ambani, the chairman and managing director of Reliance Industries, named Kundapur Vaman Kamath as an independent director of the company for a term of five years.
In addition, he holds the positions of Non-Executive Chairman and Independent Director at Jio Financial Services, a RIL subsidiary that became independent in August 2023. Isha Ambani is a director of Jio Financial Services.
K V Kamath’s association with Reliance dates back to critical moments in the history of the business, particularly the division between Mukesh and Anil Ambani after their father Dhirubhai Ambani passed away. His appointment to the board in 2022 was a turning point in the company’s history, indicating his significant influence on Reliance’s direction.
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K V Kamath is paid according to the level of his efforts and experience as a board member. For the fiscal year 2022–2023, reports state that there will be a commission of Rs 39 lakh and a sitting fee of Rs 3 lakh. This is notably different from Mukesh Ambani’s arrangement, wherein he chooses not to accept a profit-based commission or pay.
Kamath is a mechanical engineer who completed his undergraduate studies at the National Institute of Technology Karnataka (NITK Surathkal) and his postgraduate studies in business administration at the Indian Institute of Management Ahmedabad (IIM Ahmedabad). He was awarded the Padma Bhushan, one of India’s highest civilian honours, in 2008.
