Billionaire businessman Mukesh Ambani on Tuesday stepped aside as the chairman of the board of Reliance Jio Infocomm, the communications arm of Jio Platforms Limited, paving way for his eldest son, Akash Ambani, to be appointed to the post.

Share Market Live

NSE

The 30-year-old Akash's elevation to chairman comes five years after Jio Infocomm disrupted the Indian telecom space by offering low-cost data and free phone calls.

The company said Akash, who holds a degree in economics from Brown University in the United States, has played a key role in shaping Jio Infocomm's journey so far and played a big role in creating the digital ecosystem around the company's 4G offerings.

He was "closely involved" with the team that brought out the original Jiophone in 2017, which the company said has played a crucial role in helping subscribers make the transition from 2G to 4G cellular service.

According to the company, Akash personally led many of the key acquisitions made by Jio in the past few years — the conversational AI platform Haptik, telecommunications technology firm Radisys, business management software maker Tessaract and music streaming service Saavn — and also has a keen interest in the development of new technologies and capabilities, including Artificial Intelligence-Machine Learning and blockchain.

The Ambani scion also played a key role in getting global tech majors and investors to get onboard with Jio, making it one of the largest telecommunications players today. He is poised to take Jio forward in its mission of making data and technology accessible to everyone, the company said.

Mukesh Ambani — the chairman and managing director of Reliance Industries Limited — will continue to serve as the chairman of Jio Platforms Ltd, the flagship company that owns all Jio digital services brands, Jio Infocomm.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

First Published:Jun 28, 2022 5:57 PM IST