Mr Mukesh Ambani, the chairman and managing director of Reliance Industries Limited, owner of the subsidiary, Jio Platforms Limited (JPL), has stepped down as the director of Reliance Jio on June 27. Mr Akash Ambani, a non-executive director, took over as the Chairman of Jio on the same day. Reliance Jio has touched several heights and made records under the leadership of Mukesh Ambani, and now the legacy of the telco needs to be taken forward by his eldest son, Akash Ambani.
Akash has been serving as a non-executive director of the company for a long-time now and possibly understands the business very deeply.
Jio Platforms Limited Makes Announcement of Appointment of New Chairman and Additional Directors
On June 28, JPL announced that Mr Raminder Singh Gujral and Mr K V Chowdary have been appointed as the additional directors of the company (Jio). Both will serve as independent directors for a period of five years commencing June 27, 2022. The move is subject to the approval of the shareholders.
Mr Pankaj Mohan Pawar has been appointed as the Managing Director of the company for a period of five years commencing June 27, 2022.
Mr Mukesh Ambani resigned as the Director of the company on June 27, 2022, and Akash Ambani has been approved to take over as the Chairman of the Board of Directors of the company.
Jio is currently the largest telco in India and makes the highest profits among all telcos. The company has improved its performance in several key metrics, such as ARPU (average revenue per user) and VLR subscribers’ percentage (active users) in the last few quarters.
It is worth noting that Mr Mukesh Ambani is still the Chairman and the Managing Director of Reliance Industries Limited (RIL), the parent company of Jio.