Mukesh Ambani has announced his resignation from the position of chairman, as well as the board of Reliance Jio. Replacing him is elder son Akash Ambani, who has been at the helm of several projects at Reliance Jio. In a stock exchange filing, Reliance Jio Infocomm said that the company board approved the appointment of Akash Ambani as the new chairman while his father – Asia’s richest man – Mukesh Ambani will step down. Also Read - Redmi K50i launch in India today: What to expect
In what could be seen as a likely transition in one of the world’s richest families that dominates several industries, the elevation of Akash Ambani to the role of director and chairman will unlock a new chapter for Reliance Industries’ telecom wing, which is India’s largest network having more than 420 million subscribers. Also Read - Jio is giving a new SIM, 100GB of data free on purchasing HP laptop: Check details
Akash Ambani was chairman in the making
Akash took a pivotal role at the launch of Jio alongside his father Mukesh Ambani and has been involved in major decisions for the company. He has also delivered many keynote speeches at Reliance Industries’ annual general meetings, typically held around June or July. That also an announcement about the transition is expected at the next general meeting of Reliance Jio for wider outreach. Also Read - Redmi India partners with Reliance Jio for 5G trials ahead of Redmi K50i launch
Jio’s expansion into different segments makes it more crucial for Akash to steer the company’s growth ahead of the competition from Tata Group and Adani Group, both of which are planning an aggressive push into India’s digital and entertainment segments. Ambani will also spearhead Jio’s 5G plans in India as and when the commercial deployment begins.
Apart from the appointment of Akash Ambani as the new chairman, the board also appointed Pankaj Mohan Pawar as the Managing Director of the company for five years beginning June 27.