Reliance Jio Board Approves Appointment of Akash Ambani as Chairman


Reliance Jio Infocomm Limited has approved the appointment of non-executive director Akash Ambani as chairman of the company’s board of directors.

The decision was made at the company’s board meeting held on June 27, 2022, Reliance Jio said in a statement.

Mukesh Ambani has resigned as director of the company with effect from June 27, he added.

Among the outcomes of the meeting was also the appointment of Pankaj Pawar as chief executive for five years subject to shareholder approval.

The company’s board also approved the appointment of Raminder Singh Gujral and KV Chowdary as additional directors of the company for a period of five years.

At Reliance Jio, Akash Ambani has been closely involved in the development of digital service products and applications. He graduated from Brown University with a major in economics.

Market expert Prakash Diwan said the move was in line with the company’s IPO plans. “The rollout will likely be with the new management… It very decisively sets the agenda for Reliance Jio’s IPO,” he said.

“I think it’s a great move and goes very well with the general direction the company is headed in,” he said, adding that he expects Reliance Industries’ action jumped sharply in Wednesday’s trading.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

First post: STI


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