Mukesh Ambani has resigned as a Director in Reliance Jio Infocomm Limited with the company’s Board on Tuesday approving his elder son Akash Ambani’s appointment as the Chairman. In regulatory filing, Reliance Jio, the telecom arm of the Reliance group, said the Board of Directors at its meeting held on Monday “approved the appointment of Akash Ambani, Non-executive Director, as the Chairman of the Board of Directors of the company”.

The company also said the Board “noted the resignation of Mukesh Ambani as Director of the company effective from close of working hours on June 27”. The Board also approved the appointment of Pankaj Mohan Pawar as the Managing Director for a period of five years commencing from June 27, subject to shareholders’ approval. The company also said the Board approved the appointment of Raminder Singh Gujral and K.V. Chowdary as Additional Directors, designated as Independent Directors, for a period of five years commencing from June 27, subject to shareholders’ approval.