Mukesh Ambani's son Akash is new chairman of Reliance Jio; Father steps down

Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio. His first-born will succeed him as chairman of the conglomerate’s telecom unit. Mukesh Ambani handed over the reins of the company to his elder son Akash. The company said it appointed Akash Ambani, non-executive director as the chairman of the board, a step seen as succession planning by the 65-year old billionaire. This comes after his father resigned with effect from close of working hours on June 27. Watch the full video for more.