Akash Ambani: Akash Ambani becomes chairman of Reliance Jio, Mukesh resigns as director

Industrialist Mukesh Ambani has resigned as the director of Reliance Jio. At the same time, Reliance Jio Infocomm Limited has approved the appointment of non-executive director Akash M Ambani as the chairman of the board of directors of the company.

Akash Ambani, son of Reliance India Limited chairman Mukesh Ambani, joined the board of Reliance Jio in the year 2014. The news of Akash Ambani’s coronation on the board of directors of Reliance Jio comes along with the news of Mukesh Ambani resigning from the company’s board of directors.

In the meeting of the Board of Directors held on 27th June, Mukesh Ambani has resigned from the Directorship of the company with immediate effect. The stock exchange has been informed about this by Jio.

In the information given by the company to the stock exchange, it has also been told that the board of the company has also approved the joining of Raminder Singh Gujral and KV Chaudhary as additional directors. He has been appointed as an independent director with effect from June 27 for the next five years. These appointments will be valid only after the approval of the shareholders.

Akash Ambani’s appointment will be effective from June 27. Also, making another big change, Reliance Jio Infocomm Limited has entrusted Pankaj Mohan Pawar as the Managing Director of the company with effect from June 27. The board of the company has approved the appointment of a new chairman and MD. This information has been given by the company during a regulatory filing in the stock market on June 28.

Before Akash Ambani, a graduate in economics from Brown University, his father Mukesh Ambani was looking after the company’s chairman. The board has also accepted the resignation of Mukesh Ambani from the post of chairman. This appointment is being seen as handing over the leadership to the new generation. Mukesh Ambani will continue to be the chairman of Jio Platforms Limited.

Akash Ambani is largely credited with building Jio’s 4G ecosystem. In 2020, big tech companies from all over the world had invested in Jio, Akash had also worked hard to bring global investment to India.