Mukesh Ambani resigns and his son Akash Ambani becomes chairman

Reliance Industries Chairman Mukesh Ambani has resigned from Reliance Jio’s board of directors and has taken over the role of his son Akash Ambani.

Akash, a non-executive director of Reliance Jio Infocomm Ltd in India, has been appointed chair of the board of directors, which the company announced in a June 27 exchange application.

Mukesh will continue to be Chairman of Jio Platforms Ltd, the flagship company that owns all Jio Digital Services brands, including RelianceJioInfocom.

This is the first example of his official backseat after last year announcing that the children have more responsibilities.

“This is another clear sign that Mukesh Ambani is taking the next step in redefining its involvement with the group,” said the Thomas Schmidheiny Family Enterprise Center at the Indian School of Business, based in Hyderabad. Kabil Rama Chandran, Professor and Managing Director, said. “I hope he took care to make this a success by strengthening the team around Ambani Ambani.”

Mukesh has three children. The twins Akash and Isha, and the youngest Anant. Akash, 30, studied economics at Brown University. He was part of a team that negotiated an investment in Jio’s parents at MetaPlatforms Inc., in addition to leading other major acquisitions. His promotion takes place when the Reliance Group, which is dominated by fossil fuel profits, is shifting its focus to consumer products.

Among other appointments, Panjaj Mohan Pawar will take over the managing director of the company from June 27th. Raminder Singh Gujral and KVC howdary have been appointed as independent directors.

Founded by Dhirubhai Ambani, Reliance Industries Limited is an Indian multinational conglomerate company headquartered in Mumbai. We are developing various businesses such as energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles.

according to Bloomberg Billionaires IndexWith an estimated net worth of $ 93 billion as of June 2022, Mukesh Ambani is the wealthiest person in Asia and the seventh wealthiest in the world.

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