Mukesh Ambani Resigns From Jio, Son Akash Is New Chairman

New Delhi: Reliance Industries Chairman Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio, and handed over the responsibility of the company to elder son Akash.

In a stock exchange filing, 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 board of directors of the company."

''This comes after his father resigned with effect from close of working hours on June 27,'' it added.

The company has also approved the joining of Raminder Singh Gujral and KV Chaudhary as additional directors. Both of them have been appointed as independent directors with effect from June 27 for the next five years.

''These appointments will be valid only after the approval of the shareholders,'' the stock exchange filing read.

Meanwhile, Mukesh Ambani will continue to be the Chairman of Jio Platforms Ltd, the flagship company that owns all Jio digital services brands including Reliance Jio Infocomm.

Akash Ambani joined the board of Reliance Jio in the year 2014.

Akash has been closely involved with the creation of the digital ecosystem around Jio's 4G proposition. He was closely involved with a team of engineers in inventing and launching India-specs focused Jiophone in 2017 which became quite a revolutionary device to take many people out of 2G to 4G.

He personally led the key acquisitions made by Jio in the digital space in the last few years and has also been keenly involved with the development of new technologies and capabilities including AI-ML and blockchain.

Akash was integrally involved in the trailblazing global investments by tech majors and investors in 2020, which in many ways catapulted Jio onto the global investor map.

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