Akash receives the reins of Reliance Jio from Mukesh Ambani

Akash M. Ambani, a non-executive director and Mukesh Ambani’s son, has took charge of the board of directors of Reliance Jio Infocomm Ltd, RIL’s digital and telecom division, in a momentous succession for the Reliance Industries (RIL) empire.

Following Mukesh Ambani’s resignation as the company’s Director with effect from June 27, Akash was elevated. Mukesh Ambani will however continue to serve as chairman of Jio Platforms Ltd, the parent company of all Reliance Jio digital services brands.

Akash, who is currently leading the creation of the “convergence dividend” for more than 500 million consumers, has played a key role in the disruptive and inclusive growth path that the Reliance Group’s consumer retail and digital services have mapped out. This path is highly inclusive across geographies and income levels. Reliance Jio Infocomm, a division of Jio Platforms, is the country’s largest 4G and mobile broadband digital service provider.

Akash played a crucial role in the international investments made by tech giants and investors in 2020, which helped Jio become well-known among investors worldwide. In order to promote an ecosystem that will advance digital solutioning and make the power of data and technology more available to everyone, including those who are still on the margin, he is required to continue operating at the forefront of innovation and technology.

Officials from RIL say that Akash personally oversaw Jio’s most significant digital acquisitions in recent years. He has also been actively involved in the creation of new technologies and capabilities, such as blockchain and AI-ML.

In the meantime, Pankaj Mohan Pawar was appointed as the company’s managing director for a five-year term beginning on June 27 by the Reliance Jio board. Additionally, it authorised the appointment of K.V. Chowdary and Raminder Singh Gujral as additional directors of the firm who will serve as independent directors for a five-year term.

An announcement regarding the appointment of Isha, Akash’s twin sister, as chair of Reliance’s retail division is anticipated as soon as Wednesday, according to people with knowledge of the situation. However, the company opted not to comment.

Source: PTI