Guwahati: Ambani will step down as the company’s director as of June 27, according to a statement made on Tuesday by Reliance Jio Infocomm Limited, the digital division of Reliance Industries.
The company said that it had appointed Akash Ambani, the son of Mukesh Ambani and a non-executive director as the chairman of the board.
Pankaj Mohan Pawar will start serving as the company’s managing director on June 27.
Raminder Singh Gujral and KV Chowdary have been appointed as additional directors of the company, designated as independent directors for five years beginning on June 27, 2022, subject to approval of the shareholders, according to a statement. The appointment was approved by the board of directors at the meeting held yesterday.
Pankaj Mohan Pawar was chosen by the board to serve as the company’s managing director for a period of five years while waiting for shareholder approval.
The board took note of Mukesh D. Ambani’s resignation as a director of the company during the meeting, which became effective at the close of business on June 27, 2022.
Finally, the meeting endorsed Akash M. Ambani’s appointment as the company’s chairman of the board of directors.
The company said in a regulatory filing, “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.”
It may be noted that Reliance Industries’ stock finished at Rs 2,529.00 on the BSE; 1.49 percent higher than the previous day’s closing price. It increased by 1.50% to close at Rs 2,530 per unit.