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Jun 28 • 7 tweets • 6 min read
#MukeshAmbani steps down as director of #RelianceJio, Akash Ambani appointed chairman

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By @jainrounak Image
#MukeshAmbani has resigned as the director of #RelianceJio effective June 27, and appointed his eldest son #AkashAmbani as the chairman of the board. The elevation of the Brown university-graduate has been speculated for a long time. Image
Akash has been a part of multiple announcements associated with the company like the launch of #RelianceJio in 2016. The 30-year-old is known to have played a pivotal role in the important deal between the telco and tech major Facebook.

#MukeshAmbani
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This move also brings to the fore, #MukeshAmbani’s carefully curated succession planning that divides his vast empire between his children. His daughter Isha Ambani, has been associated with yet another business that Mukesh Ambani built almost from the ground up – retail. Image
Both Isha and Akash have been directors of both retail and Jio businesses, but today’s move could be interpreted as an unofficial division. A #succession plan that can avoid a spat like the one he was drawn into with his brother, #AnilAmbani.

#MukeshAmbani Image
#MukeshAmbani’s youngest son Anant Ambani is yet to make an official entry into the business though he is known to be a director in the solar businesses of #RelianceIndustries.

economictimes.indiatimes.com/industry/renew…
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#MukeshAmbani #RelianceJio

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Jun 30
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Jun 30
It could be slowflation not #stagflation – and it’s better for the equity markets

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#G7Summit
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