Mukesh Ambani resigns from board of Reliance Jio, son Akash made chairman

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India's most valuable company, billionaire Mukesh Ambani resigned from the board of his $217-billion group's telecom arm, Reliance Jio,

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and handed over the firm's reins to elder son Akash.

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Reliance Jio Infocomm Ltd on Tuesday said the company's board at a meeting on June 27,

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"approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company."

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This comes after his father resigned with effect from the close of working hours on June 27, it said.

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Jio is a unit of Reliance Industries Ltd, whose business spans from oil refining and petrochemicals to retail, media and new energy.

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Mukesh Ambani, 65, has three children - twins Akash and Isha and youngest son Anant.

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Akash and Isha have been on the boards of Reliance Retail Ventures Ltd - the company that operates supermarkets offering consumer

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electronics, food and grocery, fashion, jewellery, footwear, and clothing,

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as well as the online retail venture, JioMart - and digital arm Jio Platforms Ltd (JPL) since October 2014.

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thanks for reading

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