Billionaire businessman Mukesh Ambani stepped down on Tuesday as chairman of the board of Reliance Jio Infocomm, the communications arm of Jio Platforms Limited, paving the way for the appointment of his eldest son, Akash Ambani, at this post.
The elevation of 30-year-old Akash to the post of chairman comes five years after Jio Infocomm disrupted India’s telecom space by offering low-cost data and free phone calls.
The company said Akash, who holds a degree in economics from Brown University in the United States, has played a key role in shaping Jio Infocomm’s journey so far and has played an important role in the creation of the digital ecosystem around the company’s 4G offers.
He was “closely involved” with the team that released the original Jiophone in 2017, which the company says played a crucial role in helping subscribers switch from 2G cellular service to 4G cellular service.
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According to the company, Akash has personally led many of the key acquisitions made by Jio in recent years – conversational AI platform Haptik, telecommunications technology company Radisys, business management software maker Tessaract and music streaming service Saavn – and also has a keen interest in developing new technologies and capabilities, including artificial intelligence, machine learning and blockchain.
The scion of Ambani also played a key role in bringing tech majors and global investors to join Jio, making him one of the biggest players in telecommunications today. It’s set to take Jio forward in its mission to make data and technology accessible to everyone, the company said.
Mukesh Ambani – the Chairman and Managing Director of Reliance Industries Limited – will continue as Chairman of Jio Platforms Ltd, the flagship company which owns all Jio digital services brands, Jio Infocomm.