RIL chairman and managing director, Mukesh Ambani has stepped down as a director on the board of Reliance Jio Infocomm Limited. Akash Ambani, who is a non-executive director on the board of the company, will take over as the chairman of India’s telecom market leader.
However, Mukesh Ambani will continue as the chairman of Jio Platforms Ltd, the company that owns all Jio digital services brands including Reliance Jio.
In a filing to the Bombay Stock Exchange, the Reliance Industries Limited subsidiary also informed that Pankaj Mohan Pawar will take over as the managing director of the company.
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 said.
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Among other appointments, Raminder Singh Gujral and KV Chowdary were appointed independent directors, it added.
Akash, an economics graduate from Brown University in the US, has been involved in the development of new technologies and capabilities and will continue to work towards making data and technology more accessible to all, the company said in a statement.
According to TRAI data, India’s largest telecom operator, Reliance Jio, had gained 16.8 lakh mobile subscribers in April, cementing its lead in the market.
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