Reliance Jio Infocomm Ltd, on Tuesday announced that Mukesh Ambani would resign as the director of the company effective from 27 June.
The company said it had appointed non-executive director and Mukesh’s son Akash Ambani as the chairman of the board.
This development is largely being seen in business circles as succession planning by the 65-year old billionaire and one of the world’s richest men.
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.’
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