Mumbai: Reliance Jio Infocomm, the telecom arm of Reliance Industries, announced on Tuesday that Reliance Industries chairman and managing director Mukesh Ambani has resigned his position at the company effective from 27 June. Akash Ambani, who is a non-executive director on the board of the company, will take over as the chairman of Indian telecom conglomerate.

Further, Pankaj Mohan Pawar will take over as the managing director of the company, according to the decisions taken at Jio's board of directors meeting held on 27 June 2022. The appointment is for a period of five years commencing from 27 June 2022, subject to approval of the shareholders.

In a regulatory filing, Reliance Jio said the company's board at a meeting on 27 June, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company."

Among other decisions taken by the company’s board of directors at the meeting held on Monday were appointing Raminder Singh Gujral and KV Chowdary as independent directors of the company for a period of five years commencing from 27 June 2022.

The board noted the resignation of Mukesh D Ambani as director of the company effective from close of working hours on 27 June, even as it approved the appointment of Akash M Ambani, non-executive director as chairman of the board of directors of the company.