Akash Ambani becomes the new chairman of Reliance Jio as Mukesh Ambani steps down

Akash Ambani becomes the new chairman of Reliance Jio as Mukesh Ambani steps down
Twitter

Reliance Industries Ltd (RIL) has appointed Akash Ambani as its new chairman. The news was confirmed in a regulatory filing stated on June 28.

Replacing his father Mukesh Ambani, Akash Ambani will now head the RIL. His elevation as the board chairman was announced today.

“The board of directors have at their meeting held on June 27, 2022 noted the resignation of Mr Mukesh D Ambani as director of the company effective from close of working hours on June 27, 2022,” Jio informed the stock exchanges.

The board has also “approved the appointment of Akash M Ambani, non-executive director as chairman of the board of directors of the company”, it added.

The company also states that the board has cleared the appointment of Raminder Singh Gujral and KV Chowdary, as additional directors of RIL, designated as independent directors, for a period of five years starting from June 27, 2022.

Jio, the Indian telecom giant reported a net profit of Rs 4,173 crore in Q4FY22, as compared to Rs 3,615 crore in the third quarter.

ALSO READ | Gold Price Today: Yellow Metal Records Marginal Uptick In Chennai; Check Rates In Kerala And Hyderabad Here