Akash Ambani named Reliance Jio Chairman; Mukesh Ambani resigns

Publicly listed Reliance Industries Ltd (RIL) said in a regulatory filing on Tuesday, June 28, that the board of Reliance Jio, its telecom arm, has appointed Akash Ambani as its Chairman. His father Mukesh Ambani has stepped down as director from RJio.

Akash had joined the RJio board in 2014. “The board of directors have at their meeting held on June 27, 2022 noted the resignation of Mr Mukesh D Ambani as director of the company effective from close of working hours on June 27, 2022,” said the Jio statement to the stock exchanges.

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The board has also “approved the appointment of Akash M Ambani, non-executive director as chairman of the board of directors of the company”, it added.

Pankaj Mohan Pawar has taken over as the Managing Director of RJio, the statement further said. It noted that the board has also cleared the appointment of Raminder Singh Gujral and KV Chowdary as additional directors of the company, designated as independent directors, for a period of five years commencing from June 27, 2022.