The board of Reliance Jio on Tuesday appointed Akash Ambani as the new chairman. This information was given in a notice sent to the stock exchanges of the company. Akash Ambani is the son of Mukesh Ambani, chairman of Reliance Industries (RIL).
He joined the board of Reliance Jio in the year 2014. With Akash Ambani becoming the chairman, Mukesh Ambani has stepped down as the director of Reliance Jio.
Reliance Jio Infocom Ltd gave this information to the stock exchanges on Tuesday. The company said that the resignation of Mukesh Ambani has become valid only after the closure of the market on June 27. The company also informed about making Akash Ambani the chairman of the board. “The Board of Directors of the company has approved the appointment of Non-Executive Director Akash Ambani as Chairman,” it said.
Before Akash Ambani, a graduate in economics from Brown University, his father Mukesh Ambani was looking after work as the chairman of Reliance Jio. The resignation of Mukesh Ambani from the post of chairman and the appointment of Akash Ambani is being seen as handing over the leadership to the new generation. However, Mukesh Ambani will continue to be the chairman of Jio Platforms Limited.
Apart from this, the board also approved the appointment of Raminder Singh Gujral and KV Chaudhary as additional directors. Both of them have been appointed as independent directors for 05 years. Similarly, the board also approved the appointment of Pankaj Mohan Pawar as the Managing Director of Reliance Jio. This appointment is also for the next 05 years from June 27, 2022. These appointments are yet to be approved by the shareholders.