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

The announcement outlines a clear transfer of wealth by the 65-yr-old tycoon, who was embroiled in a bitter inheritance dispute with his younger brother after their father died in 2002 without a will

RIL Chairman Mukesh Ambani with his son, Akash. Pic: Kamlesh Pednekar
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Mukesh Ambani with his son Akash (File photo: Kamlesh Pednekar)

Press Trust of India New Delhi
In the first clear signs of a succession plan being charted out at India's most valuable company, billionaire Mukesh Ambani resigned from the board of his $217-billion group's telecom arm, Reliance Jio, and handed over the firm's reins to elder son Akash.

In a stock exchange filing, Reliance Jio Infocomm Ltd on Tuesday said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from the close of working hours on June 27, it

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jun 28 2022 | 4:24 PM IST

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