The board of Reliance Jio, the telecom arm of oil-to-retail conglomerate Reliance Industries Ltd (RIL), has appointed Akash Ambani as its chairman, a regulatory filing stated on June 28.
Akash Ambani, the son of RIL chief Mukesh Ambani, had joined Jio in 2014. His elevation as the board chairman was announced along with the news of Mukesh Ambani stepping down as the director of Reliance Jio.
“The board of directors has 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,” Jio informed the stock exchanges.
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.
The company further noted that the board has 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.
The appointment of Pankaj Mohan Pawar as managing director of Jio has also been approved, it added. The decision, however, would require clearance from shareholders.