Reliance Jio Names Akash Ambani As Chairman In Major Leadership Shift

Reliance Jio Infocomm. Ltd. has named Akash Ambani as its chairman, signalling that billionaire Mukesh Ambani is speeding up leadership transition in the oil-to-telecom conglomerate.

Reliance Jio’s board has approved the appointment of Akash Ambani as the chairman, the company said in an exchange filing. The elder son of Mukesh Ambani served as a non-executive director of the company prior to the appointment.

Mukesh Ambani resigned as director of Reliance Jio effective from close of working hours on Monday.

Earlier this year, Mukesh Ambani had said that the group is in the “process of effecting a momentous leadership transition from seniors belonging to my generation to the next generation of young leaders”, indicating that he would like the “process to be accelerated”.