Mukesh Ambani resigns, and Akash Ambani takes over as Chairman of Jio

New Delhi: Jio, the digital division of Mukesh Ambani’s Reliance Industries, an Indian conglomerate, announced on Tuesday that its director would step down. The firm  named Akash Ambani, a non-executive director and Mukesh’s son, as the new board chairman.

Mukesh Ambani has resigned as the company’s director, effective June 27. Pankaj Mohan Pawar will take over as the company’s Managing Director on June 27, according to decisions made at Jio’s Board of Directors meeting on Monday, June 27, 2022.

Without a doubt, Dependence Jio Infocomm, in a administrative recording, said the company’s board at a assembly, “endorsed the arrangement of Akash M Ambani, non-executive chief, as chairman of the board of executives of the company.”

This comes after his father resigned with effect from the end of business on June 27, according to the note.

Pankaj Mohan Pawar was among the other candidates chosen, and his five-year term as the company’s managing director began on June 27. Independent directors KV Chowdary and Raminder Singh Gujral were appointed.

Mukesh Ambani, the 65-year-old billionaire, has stepped down from the Reliance Jio board of directors and handed over leadership of the company to his elder son Akash.