Mukesh Ambani Resigns As Director Of Reliance Jio, Son Akash Appointed Chairman

The company said it had appointed non-executive director and Mukesh's son Akash Ambani as the chairman of the board.

By Talibuddin Khan
Updated: Tue, 28 Jun 2022 07:19 PM IST
Minute Read
Mukesh Ambani Resigns As Director Of Reliance Jio, Son Akash Appointed Chairman
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Indian Billionaire Mukesh Ambani on Tuesday resigned as the Director of the Reliance Jio Infocom Ltd, the digital arm of Reliance Industries and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year-old billionaire.

The company, in a statement, said that Mukesh Ambani's son Akash Ambani, the non-executive director of the company, has been appointed chairman of the board.  

In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from the close of working hours on June 27, it said.

Among other appointments, Pankaj Mohan Pawar was appointed Managing Director of the company for five years beginning June 27. Raminder Singh Gujral and KV Chowdary were appointed independent directors, it added.

Last year, Ambani said that his kids were taking more responsibilities as part of the leadership shift. He said he could see in his children the same spark and potential of his father Dhirubhai Ambani -- Reliance's founder -- for contributing to India's growth.

Mukesh Ambani will continue to be the Chairman of Jio Platforms Ltd, the flagship company that owns all Jio digital services brands including Reliance Jio Infocomm.

Akash Ambani, who has graduated from Brown University with a major in Economics, has been closely involved with the creation of the digital ecosystem around Jio's 4G proposition. He was closely involved with a team of engineers in inventing and launching an India-specs focussed Jiophone in 2017 which became quite a revolutionary device to take many people out of 2G to 4G.

Akash personally led the key acquisitions made by Jio in the digital space in the last few years and has also been keenly involved with the development of new technologies and capabilities including AI-ML and blockchain.

He was integrally involved in the trailblazing global investments by tech majors and investors in 2020, which in many ways catapulted Jio onto the global investor map.

Akash is expected to continue to operate on the cutting-edges of innovation and technology to encourage an ecosystem that will further digital solutions and make the power of data and technology more accessible to all, including those who are still at the margin. He will continue Jio's efforts "to build India into a highly inclusive, highly digital society".

 

(With ANI Inputs)

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