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Reliance Jio’s Mukesh Ambani Steps Down as Director, Akash Ambani Appointed Chairman of Board

Mukesh Ambani has resigned from the board of his group’s telecom arm, Reliance Jio and handed over the reins of the corporate to elder son Akash, a step seen as succession planning by the 65-year outdated billionaire.

In a inventory alternate submitting, Reliance Jio Infocomm mentioned the corporate’s board at a gathering on June 27, “authorized the appointment of Akash M Ambani, non-executive director, as chairman of the board of administrators of the corporate.” This comes after his father resigned with impact from shut of working hours on June 27, it mentioned.

Amongst different appointments, Pankaj Mohan Pawar was appointed Managing Director of the corporate for 5 years starting June 27.

Raminder Singh Gujral and KV Chowdary have been appointed impartial administrators, it added.

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