Reliance Jio Managing Director Sanjay Mashruwala Resigns

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Three points you will get to know in this article:

  • Sanjay Mashruwala to leave Reliance Jio as director on June 9, 2023.
  • Mashruwala and Pawar were both Jio MDs, but only Pawar remains.
  • Reliance Jio’s standalone net profit rose 13% YoY to INR 5,337 Cr in FY24 Q1.
Sanjay Mashruwala Jio

Sanjay Mashruwala Resigns as Managing Director of Reliance Jio

Sanjay Mashruwala, who served as the Managing Director (MD) of Reliance Jio Infocomm Ltd, has decided to step down from his role. At the age of 76, he will no longer be overseeing operations at the telecom giant under Reliance Industries Ltd (RIL), starting from June 9.

In an official statement filed with the exchange, Jio shared, “We want to inform you that Sanjay Mashruwala, our Managing Director, has chosen to resign as a director of the company, effective June 9, 2024.”

Transition in Reliance Jio's Leadership

Mashruwala was one of the two Managing Directors at Reliance Jio. The other MD, Pankaj Mohan Pawar, will carry on with his responsibilities.

Taking over as the company’s MD in 2013, Mashruwala has had quite a journey. Before this pivotal role, he contributed in various capacities within the Reliance Group.

Sanjay Mashruwala's Remarkable Journey at Reliance

His journey with Reliance goes way back, even to the days when the company’s visionary founder, Dhirubhai Ambani, personally oversaw its day-to-day operations.

The official statement from Jio expressed gratitude for Sanjay Mashruwala’s valuable contributions to the company’s evolution. It’s worth mentioning that Pawar took on the role of managing director for a five-year term starting in June 2022. Additionally, the company welcomed former bureaucrat RS Gujral and former Central Vigilance Commissioner (CVC) KV Chowdary as independent directors for the same duration.

In 2022, Mukesh Ambani stepped down from his role as director of the company, marking a significant change in leadership. At the same time, Akash Ambani took on the mantle of chairman, ushering in a new era for the company.

This Monday, Reliance Jio Infocomm celebrated a noteworthy milestone, reporting a 13% year-on-year increase in its standalone net profit, reaching INR 5,337 Cr for the March quarter of FY24. Additionally, Jio proudly announced the addition of over 10.8 Cr subscribers to its 5G network.

Meanwhile, Jio Platforms, the home of Reliance Jio Infocomm, saw a commendable 12% YoY surge in its consolidated net profit, totaling INR 5,583 Cr in Q4 FY24. These achievements reflect the company’s ongoing commitment to growth and innovation.

Sanjay Mashruwala, Managing Director of Reliance Jio, will step down from his role at 76, leaving a significant impact on the company’s journey. Pankaj Mohan Pawar will continue as the sole MD post-Mashruwala’s resignation. Mashruwala’s pivotal contributions were acknowledged, and his journey at Reliance dates back to the days of Dhirubhai Ambani. Notable leadership changes include Mukesh Ambani’s step-down and Akash Ambani assuming the chairman role. Furthermore, Reliance Jio

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