Mukesh Ambani resigns from Reliance, throne handed over to son Akash

Written By Rajnish Jha.

Mukesh Ambani has resigned from the board of his group’s telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash Ambani, a step seen as succession planning by the 65-year old billionaire.

Mukesh Ambani made a decision

There were discussion happening about who is going to be the next chairperson of Reliance Akash or Anant? Today Mukesh Ambani made a decision in profit of Reliance industries. A stock exchange filing, Reliance Jio Infocomm said the company’s board at a meeting on June 27, “approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company.” This comes after his father resigned with effect from close of working hours on June 27.

The legacy of Reliance industries

Late. Dhirubhai Ambani established Reliance industries and after taking charge by Mukesh company was growing very fast and Mukesh is Asia’s richest man. Akash was doing work under his father but he has to handle the whole company by himself.

New assigned in Reliance industries

The board at its meeting today also approved the appointment of Pankaj Mohan Pawar as Managing Director of the Reliance Jio for a period of five years commencing from June 27, 2022.

Jio, in a statement stated about it

Jio, in a statement, also stated that its board has approved Raminder Singh Gujral and K.V. Chowdary, as Additional Directors of the firm. They have been assigned as Independent Directors for a period of 5 (five) years commencing from June 27, 2022.

In accordance with the circular dated June 20, 2018, issued by the Stock Exchanges, we now 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 company said.

(Rajnish is student of BA-JMC first year from Maharishi University Of Information Technology, Noida)

Leave a Reply

Your email address will not be published. Required fields are marked *