Mukesh Ambani steps down from Reliance Jio, son Akash named Chairman

Mukesh Ambani has resigned as a Director in Reliance Jio Infocomm and his elder son Akash Ambani will be the Chairman.
Reliance Jio, the telecom arm of the Reliance group, said the Board of Directors at its meeting held on Monday approved the appointment of Akash Ambani, non-executive Director, as the Chairman of the Board of Directors of the company.

The company also said the Board noted the resignation of Mukesh Ambani as Director of the company effective on June 27.

The Board also approved the appointment of Pankaj Mohan Pawar as Managing Director for a period of five years commencing from June 27. Reliance Jio, which disrupted the Indian mobile services market, is the #1 telecom service provider in India — well ahead of Bharti Airtel and Vodafone Idea.