After Mukesh Ambani resigned as a director of the firm on June 27, Reliance Jio announced on Tuesday that its board has authorised the nomination of Akash Ambani as chairman of the board.
In addition, the board accepted Pankaj Mohan Pawar’s appointment as managing director of Reliance Jio for five years during its meeting today.
Mukesh Ambani will continue to serve as the Chairman of Jio Platforms Ltd, the parent business of all Reliance Jio digital services brands. Akash has also been chosen to serve as Reliance Jio’s non-executive director.
At its meeting today, the board also gave its approval to Pankaj Mohan Pawar’s nomination as Reliance Jio’s managing director for a five-year term beginning on June 27, 2022.
Raminder Singh Gujral and K.V. Chowdary have been approved by Jio’s board to serve as the company’s additional directors, the company said in a statement. Beginning on June 27, 2022, they have been appointed as independent directors for 5 (five) years
Raminder Singh Gujral and KV Chowdary are not prohibited from holding the office of Director by any Securities and Exchange Board of India decision or any other similar authority, we hereby confirm, by the circular dated June 20, 2018, released by the Stock Exchanges.
According to Reliance, Akash played a key role in building the online community around Jio’s 4G offering. According to the company, “He was intimately involved with a team of engineers in creating and introducing an India-specs focused Jiophone in 2017, which became quite a groundbreaking gadget to transition many people from 2G to 4G.”
Reliance Industries stock increased 1.49 per cent from Monday’s finish to close at Rs 2,529.00 per share on the BSE. It increased by 1.50% to close at Rs 2530.00 per unit on NSE.
In the meantime, according to the latest TRAI data, Reliance Jio added 16.8 lakh new mobile subscribers in April, solidifying its position as the market leader, while Bharti Airtel added 8.1 lakh, new customers.