Change of guard at Reliance Jio: Akash Ambani named chairman
21 Jul 2022
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Mukesh Ambani, chairman of Reliance Industries Ltd, has resigned as chairman of Reliance Jio Infocomm Ltd, the digital arm of Reliance group, allowing his son Akash Ambani to take over reins as the new chairman
The board of directors of the company at a meeting on 27 June, approved the appointment of Akash Ambani as the new chairman.
Reliance Jio, in a regulatory filing, said the board “approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company.”
Pankaj Mohan Pawar will take over as managing director of the company from 27 June, as a part of other appointments.
Raminder Singh Gujral and KV Chowdary were appointed independent directors.
“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 filing added.
As part of the leadership shift, Mukesh Ambani said that his kids were taking more responsibilities. He added that he could see the same spark and potential of his father Dhirubhai Ambani – Reliance’s founder – for contributing to the country’s growth.
With a major in Economics from Brown University, Akash Ambani has been closely involved with the disruptive and inclusive growth path charted by the digital services and consumer retail propositions of Reliance Group.
Currently, he is also leading the creation of the ‘convergence dividend’ for over 500 million consumers.
Closely involved with the creation of the digital ecosystem around Jio’s 4G proposition, Akash was closely involved with a team of engineers in inventing and launching an India-focused Jiophone in 2017, which became quite a revolutionary device to take many people out of 2G to 4G.
He has also been involved with the key acquisitions made by Jio in the digital space in the last few years and has also been keenly involved with development of new technologies and capabilities, including AI-ML and blockchain.
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