Mukesh Ambani resigns: Mukesh Ambani resigns as JIO director, who will take charge now?

Reliance Jio: Mukesh Ambani has resigned as director of Reliance Jio. At the same time, Akash Ambani has been appointed as the chairman of Reliance Jio.

Reliance Jio: Mukesh Ambani has resigned as director of Reliance Jio. At the same time, Akash Ambani has been appointed as the chairman of Reliance Jio. Reliance Jio Infocomm Limited gave this information on Tuesday. The appointment is being seen as handing over leadership to a new generation.

When will this decision be valid?

Mukesh Ambani’s resignation came into effect only after the market closed on June 27. The company’s board of directors has approved the appointment of non-executive director Akash Ambani as chairman.

Mukesh Ambani will continue to be the chairman of the Jio platform

Before Akash Ambani graduated in Economics from Brown University, his father Mukesh Ambani was the Chairman of Reliance Jio. Mukesh Ambani’s resignation as chairman and Akash Ambani’s appointment are being seen as handing over leadership to a new generation. However, Mukesh Ambani will continue as chairman of Jio Platform Limited.

These people also got a place on the board

The board also approved the appointment of Raminder Singh Gujral and KV Chaudhary as additional directors. Both have been appointed as independent directors for 05 years. Thus, the Board approved the appointment of Pankaj Mohan Pawar as the Managing Director of Reliance Jio. This appointment is also for the next 05 years from June 27, 2022. These appointments have yet to be approved by shareholders.

This is Mukesh Ambani’s success plan

A Bloomberg report in November last year said that Mukesh Ambani was preparing to hand over the business to the next generation. The report claimed that Mukesh Ambani would follow in the footsteps of the Walton family in succession for the business, which spans from oil to telecom. Let us tell you that Sam Walt, the founder of Walmart Inc., the world’s largest retail chain, adopted a very simple model of succession. The motto of his success plan was, ‘Keep the family at the center, but keep management control in separate hands.’

Mukesh Ambani took over the reins in 2002

After the death of his father Dhirubhai Ambani, his elder brother Mukesh Ambani took over as the chairman of Reliance in 2002. However, the success of his generation was far from over. The controversy eventually led to the split of the Reliance Group. Mukesh Ambani wants to avoid that situation. His three children Akash, Isha and Anant are involved in Reliance’s telecom, retail and energy business. Mukesh Ambani once said of his children, “I have no doubt that Akash, Isha and Anant will all take Reliance to greater heights as the next generation of leaders.”