Mukesh Ambani steps down, son to be chairman at Reliance Jio

Reliance Industries, the country’s largest private sector company, on Tuesday initiated a much-anticipated generational shift in its telecom arm’s top management, with Mukesh Ambani stepping down from the board of Reliance Jio Infocomm.

His elder son, Akash (30), non-executive director, has been appointed the chairman of the country’s largest telecom service provider. Jio is a wholly-owned subsidiary of RIL and is credited with bringing about the biggest change in the telecom market by charging only for data with voice being free. The change comes at a time when the telecom market is set for a generational change with the onset of 5G technology and services.