Mukesh Ambani has
stepped down as the Chairman of Reliance Jio Info comm (RJI) and is replaced by
his eldest son Akash Ambani. Mukesh Ambani will be the Chairman of Jio
Platforms.
The flagship company
that owns all Jio digital services brands, including the telecom unit RJI. The
RJI board of directors, in meeting on Monday, noted the resignation of Mukesh D
Ambani as Director of the Company which was effective on June 27.
Pankaj Pawar, who
was instrumental in growing Reliance Retail Ventures, has been named Managing
Director of RJI. Jio Platforms raised Rs 152,056 crore ($20 billion) from
Facebook, Google and a clutch of private-equity investors in 2020. Reliance Jio
Info comm, which launched commercial services in September 2016, had 410
million subscribers as of March 2022.
Operational revenue
in FY 2022 was Rs 76,977 crore. Akash has been involved with the creation of
the digital ecosystem around Jio’s 4G proposition, and the Jio phone in 2017.
He also led key
acquisitions made by Jio in the digital space over the past few years, and has
been involved with the development of new technologies and capabilities, the
spokesperson added.
Reliance Industries,
the parent company, is India's most valuable private company with a market
capitalisation of Rs 17.11 lakh-crore.
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