Mukesh Ambani steps down as director of Reliance Jio, son Akash Ambani announced new Chairman

Mukesh Ambani Resigns: Mukesh Ambani has resigned from the board of his group’s telecom arm, Reliance Jio, and has handed over the reins of the company to his elder son Akash Ambani. The step can be seen as succession planning by the 65-years old billionaire. Reliance Jio Infocomm, in a stock exchange filing, said that the company’s board at a meeting on June 27, 2022, approved the appointment of Akash M Ambani, non-executive director, as the Chairman of the Board of Directors of Reliance Jio. This has come after Mukesh Ambani resigned with effect from the close of working hours on June 27.

Akash Ambani appointed as chairman of Reliance Jio, Mukesh Ambani resigns as director. pic.twitter.com/xDvtl8WKVh

— ANI (@ANI) June 28, 2022

Reliance Jio appointments

With the announcement of Akash Ambani being the new Chairman of Reliance Jio, Pankaj Mohan Pawar was among the other selections made, and his five-year term as the managing director of the business began on June 27. KV Chowdhary and Raminder Singh Gujral were named independent directors. 

Who is Akash Ambani? Chairman of Reliance Jio 

1. Akash Ambani, who has graduated from Brown University with a major in Economics, has been closely involved with the disruptive and inclusive growth path chartered by the digital services and consumer retail propositions of Reliance Group.

2. He is now leading the creation of the convergence dividend for over 500 million consumers.

3. Akash Ambani has been closely associated with the creation of the digital ecosystem around Jio's 4G proposition. 

4. 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.

Reliance Jio- Telecomm arm of Reliance

Reliance Jio Infocomm Limited, doing business as Jio, is an Indian telecommunications company and the subsidiary of the Jio Platform. Currently, Jio offers 4G and 4G+ services, however, it is working to offer 5G and 6 G as well. 

Jio was launched on December 27, 2015, with a beta for partners and employees and became publicly available on September 5, 2016. Jio is the largest mobile network operator in India and the third-largest mobile network operator in the world with over 42.2 crores subscribers.