Mukesh Ambani resigns; Akash Ambani made chairman of Reliance Jio

Mumbai: Mukesh Ambani's first-born will succeed him as chairman of the conglomerate's telecom unit, kickstarting a leadership transition in one of Asia's wealthiest families.

Akash Ambani, who is a non-executive director at India's No.1 wireless carrier Reliance Jio, was appointed as chairman of the board of directors. Mukesh Ambani resigned from the board of Reliance Jio, the company said in an exchange filing Tuesday.

Last year, Ambani said that his kids were taking more responsibilities as part of the leadership shift. He said he could see in his children the same spark and potential of his father Dhirubhai Ambani - Reliance's founder - for contributing to India's growth.