Mukesh Ambani, 65, has resigned as chairman of Reliance Jio Infocomm, part of the Reliance Group, and handed over the reins to his eldest son Akash.
Reliance Jio Infocomm’s statement to the Bombay Stock Exchange:
The company’s board of directors meeting was held on June 27th. In this, the plan to appoint Akash M. Ambani (30) as the non-official director as the head of Geo Infocomm was approved. Reliance Jio Infocomm told the stock exchange that the decision was taken following the resignation of Mukesh Ambani on June 27.
Mukesh Ambani’s decision is seen as a prelude to handing over the leadership responsibilities of India’s most valuable company to the next generation.
As its first phase, Mukesh Ambani’s eldest son Akash has taken over the leadership of Reliance Jio Infocomm, the telecom arm of Reliance Group, which is currently worth $ 217 billion (approximately Rs 17 lakh crore in India).
Mukesh Ambani has twins Akash and Isha and a youngest son Anand.
Isha, 30, daughter of Mukesh Ambani, has been widely criticized by industry for handing over responsibility for retail companies. Eva is married to Anand Brahmal (son of Ajay and Swati Brahmal couple of Brahmal Group).
Mukesh Ambani’s youngest son Anand, 26, was appointed director of Geo Platform (JBL) in May 2020. He was recently appointed Director of Reliance Retail Venture (AOVL).