Mukesh Ambani resigns from board of Reliance Jio, son Akash was made chairman

Amongst different appointments, Pankaj Mohan Pawar will take over as the Managing Director of the corporate from 27 June.

Raminder Singh Gujral and KV Chowdary had been appointed unbiased directors.

In 2021, Ambani said that his kids had been taking extra duties as a part of the management shift. He said he may see in his youngsters the identical spark and potential of his father Dhirubhai Ambani – Reliance’s founder – for contributing to the nation’s progress

Few issues to know about Akash Ambani

– Akash Ambani, who has graduated from Brown College with a serious in Economics, has been closely involved with the disruptive and inclusive progress path charted by the digital companies and consumer retail propositions of Reliance group and is now main the creation of the ‘convergence dividend’ for over 500 million consumers.

– Akash has been closely involved with the creation of the digital ecosystem around Jio’s 4G proposition. He was closely involved with a group of engineers in inventing and launching an India-specs focussed Jiophone in 2017 which turned into quite a revolutionary device to take many people out of 2G to 4G.

Akash was integrally involved in the trailblazing international investments by tech majors and traders in 2020, which in many ways catapulted Jio onto the global investor map.

The Board of Directors have at their meeting held on 27 June 2022:

(a) accredited the appointment of Raminder Singh Gujral and KV Chowdary, as Additional Administrators of the Firm, designated as Unbiased Administrators for a period of 5 (5) years commencing from 27 June 2022, topic to the approval of the shareholders

(b) approved the appointment of Pankaj Mohan Pawar as Managing Director of the Firm for a period of 5 (5) years commencing from 27 June 2022, topic to the approval of the shareholders

(c) famous the resignation of Mukesh D Ambani as Director of the Company efficient from close of working hours on 27 June 2022

(d) permitted the appointment of Akash M Ambani, Non-executive Director as Chairman of the Board of Directors of the Company.

“In accordance with the circular dated June 20, 2018, issued by the Stock Exchanges, we hereby confirm that Raminder Singh Gujral and KV Chowdary aren’t debarred from holding the office of Director by advantage of any Securities and Exchange Board of India order or some other such authority,” the corporate added.

Established in 2019, Jio Platforms, wholly-owned by RIL, is an Indian technology company.

Shares of Reliance Industries closed at 2,529.00 apiece on BSE, 1.49% higher than yesterday’s shut. At the NSE, it climbed by 1.50% to settle at ₹2530.00 apiece.

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