Meet the New Chairman of Reliance Jio, Akash Ambani Mukesh Ambani hands over the torch to his elder son

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Reliance Jio's Twitter account

Reliance Jio, the digital division of Reliance Industries, announced on Tuesday that Mukesh Ambani has stepped down as the director. Akash Ambani has been appointed as the non-executive director and new chairman of the board.

"The Board of Directors have at their meeting held on June 27, 2022, noted the resignation of Mukesh D. Ambani as director of the company effective from close of working hours on June 27, 2022; and approved the appointment of Akash Ambani, non-executive director as chairman of the board of directors of the company," said the Indian conglomerate in a BSE filing on Tuesday.

The resignation of Mukesh Ambani was effective from close of working hours on 27 June. Pankaj Mohan Pawar has been appointed as the managing director of the company according to the decision approved in a meeting of the board of directors of Jio held on June 27. The appointment commenced his term for five years as managing director. The board also approved the appointment of Raminder Singh Gujral and KV Chowdhary as independent directors for a period of five years.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
Business News

'I Love Doing Product Reviews': Bill Gates Stepped Down from Microsoft in 2020, But Admits He Still Spends 15% of His Time Working at the Company

In a new interview with the Wall Street Journal, Gates also said he is still close with Microsoft's CEO Satya Nadella.

Franchise

Franchise Models Explained — How to Choose the Right One for Your Goals

Navigating the franchise world starts with understanding key business models. Here's how project-based and subscription franchises differ in investment, scalability, and recession resistance.

Business News

Uber's CEO Says Drivers Have About 10 Years Left Before They Will Be Replaced

Uber CEO Dara Khosrowshahi says the jobs of human drivers are safe for the next decade, but after that, another type of driver will take over.

Business News

Elon Musk's DOGE Is Hiring People Eager to 'Work Long Hours' to Eliminate 'Waste, Fraud and Abuse' in the Government. Here's How to Apply.

The Department of Government Efficiency is hiring U.S. citizens to help cut spending and headcounts in the federal government.

Business News

'Everyone Can Profit From It': What Is DeepSeek? China's 'Cheap' to Make AI Chatbot Climbs to the Top of Apple, Google U.S. App Stores

DeepSeek researchers claim it was developed for less than $6 million, a contrast to the $100 million it takes U.S. tech startups to create AI.

Science & Technology

From Data to Destiny — How AI Can Turbocharge Your Business Future

Are you ready to embrace the power of AI with trusted data? Let's transform challenges into opportunities and propel your business into the future.