Mukesh Ambani resigned as director of Reliance Jio with effect from June 27 and handed over the reins of the company to his older son Akash. In a statement from the stock exchange, Reliance Jio said that the company’s board of directors at the meeting approved the appointment of Akash Ambani, a non-executive director, as chairman of the company’s board of directors.
The Board of Directors also approved at its meeting the appointment of Pankahan Mohan Pawar as Executive Director of Reliance Jio for five years from June 27, 2022. Raminder Singh Gujral and KV Chowdary were appointed as independent directors. However, Mukesh Ambani will continue as chairman of Jio Platforms Ltd., a company that owns all Jio digital services, including Reliance Jio. Akash, a graduate of economics at Brown University in the United States, is committed to supporting new technologies and opportunities and will continue to work to make data and technologies more accessible to all, the company said in a statement. According to TRAI, India’s largest telecommunications operator, Reliance Jio, acquired 16.8 million mobile subscribers in April, consolidating its market leadership.