Akash had been serving as the non-executive director of the company so far.
In a stock exchange filing, Reliance Jio Infocomm said that the company's board at a meeting on 27 June, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company."
Among other appointments, Pankaj Mohan Pawar was appointed managing director of the company for five years starting 27 June. Raminder Singh Gujral and KV Chowdary were appointed as independent directors.
Mukesh Ambani has been ranked the 10th richest person in the Forbes billionaires list for 2022 and is the only Indian to make it to the coveted top 10 list. His net worth is estimated to be $100.1 billion.
Reliance Industries stock closed at Rs 2,529.00 on BSE, 1.49 percent higher than Monday's close. It climbed by 1.50 percent to settle at Rs 2530.00 on NSE.