Mumbai: Mukesh Ambani has decided to hand over the reins of Reliance Jio to his son elder son Akash.
Mukesh resigned as director of Reliance Jio, effective from June 27, and Akash has been appointed as chairman of the board of directors.
Reliance Jio Infocomm Limited approved the appointment of Non-Executive Director Akash M Ambani as chairman at the company’s board meeting held on June 27, Reliance Jio said in a statement.
The board also approved the appointment of Pankaj Mohan Pawar as Managing Director of Reliance Jio for a period of five years, while Raminder Singh Gujral and KV Chowdary were appointed independent directors.
Reliance Jio Infocomm is a subsidiary of Jio Platforms, which has Facebook, Google, Vista Equity Partners among its major investors. Mukesh continues to be the chairman of Jio Platforms.
Reliance Jio cementing its position as India’s largest telecom operator by adding 16.8 lakh mobile subscribers in April.
