Akash Ambani takes up reins of Jio Infocomm as part of succession plan

In a move that signals the succession of the third generation of the Ambani family, Mukesh Ambani has stepped down as the director of Reliance Jio Infocomm (RJIL), handing over the reins to son Akash, who will take over as the chairman of the firm.

In a stock exchange filing, Reliance Jio Infocomm on Tuesday said its board approved the appointment of Akash Ambani, non-executive director, as chairman, at a meeting held on Monday.

The transition, which comes ahead of an anticipated initial public offering (IPO) of Jio Platforms, could also see Akash’s twin sister Isha take on a greater role in RIL’s retail business, housed under Reliance Retail.