Reliance Jio Infocomm on Tuesday said that Mukesh Ambani has stepped down from the chairmanship of the Board and approved the appointment of his elder son Akash Ambani as the new chairman of the company.
The resignation of Mukesh Ambani, one of the richest people in India, is effective from the close of the working hours of the day it was declared, but he will continue to be the chairman of Jio Platforms Ltd., a flagship company that owns all Jio digital services brands, including Reliance Jio Infocomm.
Akash Ambani had joined Jio’s Board of Directors in 2014. “Akash’s elevation as chairman of Reliance Jio Infocomm recognises the specific contributions made by him to the digital services journey and re-dedicates him to even higher levels of responsibilities, going forward,” the company stated in a statement.
Besides the appointment of Akash Ambani as the chairman, the company has also made other appointments.
Other appointments at Reliance Jio
The board has approved the appointment of Raminder Singh Gujral and K V Chowdary as Reliance Jio’s additional directors and designated them as independent directors for five years commencing from June 28, 2022, according to the regulatory filing.
Along with this, the company also approved the appointment of Pankaj Mohan Pawar as the company’s managing director for five years, which is subject to getting the approval of the shareholders.
About Akash Ambani
Akash has done his graduation from Brown University (Providence, Rhode Island, USA)in Economics. He has been closely involved with the disruptive and inclusive growth path of the Reliance Group and now leading the creation of the ‘convergence dividend’ for over 500 million consumers.
Akash has also played various roles in the company and expects to continue to operate cutting-edge innovations and technology to encourage further decisions.