Mukesh Ambani, the chairman of Reliance Industries Limited, has resigned from Reliance Jio, the telecom company of the Reliance Group, on Tuesday.
Mukesh Ambani has resigned from the board of Reliance Jio and his son Akash Ambani has been made the chairman.
Reliance Jio Infocomm said the company’s board at a meeting on June 27 “approved the appointment of Akash M Ambani, non-executive director, as chairman of the company’s board of directors.” This comes after his father resigned with effect from the close of business hours on June 27, he said.
Among other appointments, Pankaj Mohan Pawar was appointed CEO of the company for five years from June 27.
The appointment of Akash Ambani as President of Reliance Jio Infocomm brings clarity on the company’s future leadership as it plans its Initial Public Offering (IPO). Reliance Industries, at its annual general meeting (AGM) in 2019, had said that the company planned to launch the Jio initial public offering within five years.
Among the outcomes of the meeting was also the appointment of Pankaj Pawar as Managing Director for five years subject to shareholder approval.
The company’s board of directors also approved the appointment of Raminder Singh Gujral and K.V. Chowdary as additional directors of the company for a period of five years.
At Reliance Jio, Akash Ambani has been heavily involved in developing digital service products and applications. He graduated from Brown University with a minor in Economics.
Who is Akash Ambani
Akash completed the IB Diploma program at Dhirubhai Ambani International School in the year 2009. After this, in the year 2013, he graduated in business commerce from Brown University of America.
After completing his studies, Akash worked with Reliance JioInfocomm Limited, the 4G arm of Reliance and the new focus of Reliance.
Akash has been interested in technology since childhood and is involved in the development of Jio’s messaging/chat products and other digital service applications.
Akash is married to Shloka Mehta, the youngest daughter of diamond merchant Russell Mehta.
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