Guwahati: In a major development in the Reliance Industries, Mukesh Ambani’s eldest son Akash Ambani has been appointed as the new chairman of Jio Infocomm’s board.
The move has been viewed as the 65-year-old billionaire’s succession planning.
It may be mentioned that Mukesh Ambani resigned from the company as a director recently.
Reliance Jio Infocomm, in a regulatory filing, said the company’s board at a meeting, “approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company.”
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The note stated that Mukesh Ambani resigned from close of working hours on 27 June.
Reliance Jio Infocomm Limited or popularly known as Jio is an Indian telecommunications company and a subsidiary of Jio Platforms.
The company is headquartered in Navi Mumbai, Maharashtra, India.
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It operates a national LTE network with coverage across all 22 telecom circles. Currently, Jio currently offers 4G and 4G+ services, however, it is working to offer 5G and 6G as well.
Jio soft-launched on 27 December 2015 with a beta for partners and employees and became publicly available on 5 September 2016. It is the largest mobile network operator in India and the third-largest mobile network operator in the world with over 42.62 crores (426.2 million) subscribers.