Mukesh Ambani hands over Reliance Jio reins to son Akash

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Mumbai: Reliance Group Chairman Mukesh Ambani tendered his resignation from the board of directors of Reliance Jio and handed over the reins of the telecom services company to his elder son, Akash Ambani.

Reliance Jio Infocomm in a statement to the stock market bourse on Tuesday said that the company’s board of directors in its meeting held on Monday approved the appointment of non-executive director Akash as the company’s chairman.

The company said Pankaj Mohan Pawar has been appointed as the Managing Director (MD) of the company for the next five years. Apart from this, Raminder Singh Gujral and KV Choudhary have been appointed as independent directors.

Akash is a graduate in economics from Brown University. Mukesh, chairman of the country’s most valuable company, Reliance Industries Limited (RIL), was overseeing its operations as chairman before handing over the command of Reliance Jio to his eldest son.

RIL chief Mukesh Ambani will continue as the chairman of Jio Platforms Ltd.

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