Isha Ambani is set to be named chairman of the Reliance conglomerate's retail unit. Akash Ambani was appointed on Tuesday as Chairman of Reliance Jio Infocomm Ltd. Isha and Akash have both been part of teams that negotiated Meta Platforms Inc.’s investment in the group. Isha is an alumnus of Yale University. Reliance Retail and Reliance Jio are subsidiaries of the family’s oil-to-telecom conglomerate, of which the $217 billion Reliance Industries Ltd. is the flagship firm. Mukesh Ambani is chairman and managing director of Reliance Industries.
On Tuesday, Mukesh Ambani resigned from the board of his group's telecom arm, Reliance Jio. In a stock exchange filing, Reliance Jio Infocomm 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." Pankaj Mohan Pawar was appointed Managing Director of the company for five years beginning June 27. Raminder Singh Gujral and KV Chowdary were appointed independent directors, it added.