Mukesh Ambani resigns as director of Reliance Jio; Akash Ambani appointed chairman

The board of Reliance Jio on Tuesday approved the appointment of Akash Ambani as the chairman of board. Mukesh Ambani resigned as Director of the company effective June 27, the telco said in a filing.

The telco has named Raminder Singh Gujrat, K V Chowdhary as directors for a period of five years commencing from June 27, 2022.

The board also approved appointment of Pankaj Mohan Pawar as Managing Director of the company for five years commencing from June 27, 2022.

"In accordance with the circular dated June 20, 2018, issued by the Stock Exchanges, we hereby confirm that Raminder Singh Gujral and KV Chowdary are not debarred from holding the office of Director by virtue of any Securities and Exchange Board of India order or any other such authority," said the company.

Reliance Jio had reported a net profit of Rs 4,173 crore in Q4 FY22, as compared to Rs 3,615 crore in the Decemer quarter of the fiscal. Its standalone revenue from operations came in at Rs 20,901 crore, jumping by 20.4 percent as compared to Rs 17,358 crore in the year-ago period.