Mukesh Ambani Resigns: Reliance AGM: There has been a big shake-up at Reliance Industries. One of the world’s richest persons Mukesh Ambani has stepped down as the director of Reliance Jio. His eldest son Akash Ambani has taken charge of the company that promotes Indian Premier League franchise Mumbai Indians. Follow Live Updates on Cricket & IPL 2023 on InsideSport.IN.
The appointment of Akash Ambani was made effective June 27. The decision was made at the Reliance’s annual general meeting on Tuesday.
Mukesh Ambani Resigns: Mumbai Indians promoter Mukesh Ambani passes baton to Akash Ambani, son appointed as Reliance Chairman
Mukesh Ambani Resigns: Reliance AGM decisions:
- The board noted the resignation of Mukesh Ambani as the Director of the company.
- It also approved Akash Ambani’s appointment as Non-executive Director as Chairman of the Board.
- Raminder Singh Gujaral and KV Chowdary were named as additional directors for five years.
- It appointed Pankaj Mohan Pawar as Managing Director of the company for five years.
Mukesh Ambani Resigns: Mumbai Indians promoter Mukesh Ambani passes baton to Akash Ambani, son appointed as Reliance Chairman
Mukesh Ambani, who took over from Dhirubhai Ambani as the Director of Reliance Industries took the company to new heights. Under his guidance, the company reached a market cap of $243 billion. Mukesh Ambani also became one of Asia’s richest businessmen.
However, he has shown keen interest in sports as well. Reliance made an entry to sports arena in 2008 through IPL franchise Mumbai Indians. Slowly, it became a household name under Rohit Sharma’s captaincy. Mumbai Indians are now the most successful franchise in IPL.
Mukesh Ambani Resigns: Mumbai Indians promoter Mukesh Ambani passes baton to Akash Ambani, son appointed as Reliance Chairman
Besides IPL, Reliance also controls Indian Super League with his wife Nita Ambani as the chairperson of the league. It has also earned AFC’s recognition and is now the premier football league in India.
Apart from that, the Reliance-backed Viacom18 recently won the digital rights of IPL 2023-27 cycle. The venture paid Rs 23,575 Cr for digital and non-exclusive digital rights.
Mukesh Ambani Resigns: Mumbai Indians promoter Mukesh Ambani passes baton to Akash Ambani, son appointed as Reliance Chairman
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