Mukesh Ambani steps down as director of Reliance Jio and his son takes over. Though he will remain as the chairman of Jio Platforms Ltd flagship company that owns all Jio digital services
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Akash Ambani, a 30 year old was previously the non executive director at Reliance Jio Infocomm Ltd but he was appointed as the chairman soon after his father resigned. It was a transition that happened after five years of the Jio Infocomm Ltd started.
Mukesh Ambani last year itself indicated that his children would take up more responsibilities. This announcement was made on Tuesday evening. Akash Ambani was also a part of the teams that negotiated investment into Jio’s parent firm Meta Platforms Inc., formerly known as Facebook Inc., besides leading other key acquisitions. In a stock exchange filing, Reliance Jio Infocomm said the company’s board at a meeting on June 27 “approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company.” Kavil Ramachandran, professor and executive director at the Thomas Schmidheiny Center for Family Enterprise, at the Hyderabad-based Indian School of Business, told Reuters.”This is another clear signal Mukesh Ambani is taking the next step of redefining his involvement with the group,”
Jio’s contribution to the Indian Telecom Industry
Jio has contributed largely to the Indian telecommunication system. It has helped in bringing digital revolution in the country. It was initiated in the year of 2016 and since then there has been no looking back for the company. People from every strata of the society now have access to the internet and all thanks to Jio. This initiative was only possible because Jio provided internet at a very low cost. Not only did it provide low cost connection but also it gave a stiff competition to other mobile operators. The digital India Revolution was a success because of Jio Infocomm Ltd.
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