Mukesh Ambani resigns from Reliance Jio, son Akash made chairman

The directorship of Mukesh Ambani at Reliance Jio Info Limited has been changed with an immediate effect. One of Asia's richest families has begun a leadership change as the business tycoon stepped down. The chairman of the board of directors has reportedly been named as Akash Ambani, a non-executive director at Reliance Jio, India's top wireless provider.

Subject to shareholder agreement, the Board authorised the nomination of Pankaj Mohan Pawar as the Managing Director for a term of five years beginning on June 27.

Raminder Singh Gujral and K.V. Chowdary were also appointed as the additional directors by the board.