Reliance Jio: Mukesh Ambani quits, Akash Ambani is elected chairman

Reliance Industries Chairman Mukesh Ambani, with his grandson Prithvi Akash and his son Akash Ambani, during the Arangetram ceremony by Radhika Merchant at Jio World Centre in Mumbai. (ANI Photo)

  • Effective June 27th, Mukesh Ambani resigned from his position as Director at Reliance Jio.
  • Pankaj Mohan Pawar, the company’s Managing Director, will assume the role on June 27th.

Reliance Industries’ digital arm, Reliance Jio Infocomm Ltd, announced Tuesday that Ambani, the company’s director, would be stepping down effective June 27th.

Reliance Jio stated in a regulatory filing that the company’s board “approved the nomination of Akash M Bani, a non-executive director of the company, as chairman of its board of directors.”

Pankaj Mohan Pawar, who will also be the Managing Director, will assume the CEO role on June 27th.

Raminder Singh Gujral was appointed as an independent director, and KV Chowdary was appointed.

Ambani stated that his children were now taking on more responsibility as part of the leadership transition in 2021. He said he could see the same potential in his children as his father Dhirubhai, founder of Reliance, for helping to grow the country.

A few things you need to know about Akash Bani

Akash Ambani graduated from Brown University in Economics and has been closely involved in the disruption and inclusive growth path mapped by the consumer retail propositions of Reliance Group. He is now leading the creation of the ‘convergence dividend for more than 500 million consumers.

Akash was closely involved in creating the digital ecosystem surrounding Jio’s 4G proposal. In 2017, he was part of a team that created and launched the India-specs Jiophone, a groundbreaking device that took many people from 2G to 4G.