Reliance Jio, on Tuesday, announced that Mukesh Ambani would resign as the director of the company effective from 27 June, and his son Akash Ambani a non-executive director, has been named the chairman of the company. Reliance Jio Infocomm, in a regulatory filing, said “the company’s board at a meeting approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company effective from today.”
Akash has been involved with the creation of the digital ecosystem around Jio’s 4G proposition and hence the company is in safe hands. In a stock regulation filing, the firm said, “Akash was closely involved with a team of engineers in inventing and launching an India-specs focussed Jiophone in 2017 which became quite a revolutionary device to take many people out of 2G to 4G.”
Pankaj Mohan Pawar has been named the Managing Director, and KV Chowdary and Raminder Singh Gujral were also named as independent directors of the company for the period of five years. “In accordance with the circular dated June 20, 2018, issued by the Stock Exchanges, we hereby confirm that Raminder Singh Gujral and KV Chowdary are not debarred from holding the office of Director by virtue of any Securities and Exchange Board of India order or any other such authority,” the company said.
However, Mukesh Ambani will continue to be the Chairman of Jio Platforms Ltd, the flagship company that owns all Jio digital services brands including Reliance Jio Infocomm.