An illustration of a leadership transition in one of Asia's wealthiest families can be seen in the appointment of the eldest son of a tycoon as the chairman of a company.
According to an exchange filing, Reliance Jio's director role has been taken over by its chairman, but he will still serve as a chairman. When it raised about $20 billion from scores of investors in 2020, it made global headlines.
Several years have passed since the leadership transition began. At the company's recent annual general meetings, the 30-year-old has delivered several keynote product announcements.
As compared to many patriarchs who refused to leave the chair, Mukesh Ambani at age 65 resigning from Jio is a huge step forward.
— Anupam Gupta (@b50) June 28, 2022
Reliance Industries, a $217 billion firm which makes a significant portion of its profits from oil, is pushing to broaden its digital offerings. Reliance and James Murdoch's Bodhi Tree won the rights to stream the Indian premier league cricket tournament for five years.
Two other Indian conglomerates are working on digital expansions.
Five years ago, the Reliance family's children were credited by their father for the creation of the company. Akash has been involved with several of the strategies of the company. Reliance units have invested in a number of startups in the last few months.
All Rights Reserved © 2024
