The Reliance Jio board of directors approved the appointment of non-executive director Akash Ambani as chairman of the company’s board on Tuesday, according to a statement from the company.
Mukesh Ambani, the chairman of Reliance Industries and Akash Ambani’s father, resigned as a director of the telecom giant on June 27. The announcement comes just days before the RIL AGM, where Dalal Street expects the oil-to-telecom conglomerate to announce demerger plans.
Jio has appointed Raminder Singh Gujral and K V Chowdary as directors for a five-year term beginning June 27, 2022. Jio also approved the appointment of Pankaj Mohan Pawar as the company’s Managing Director for a five-year term beginning June 27, 2022.
Akash Ambani takes over at a time when the Indian telecom sector is preparing to roll out 5G networks and is looking to increase average revenue per user, a key metric for indicating industry sustainability.