Reliance Industries’ (RIL) data services venture Reliance Jio Infocomm has appointed Akash Ambani to its Board of Directors, while Isha Ambani has been appointed as director on the board of Reliance Retail Ventures. Adil Zainulbhai, an independent director of RIL, was also appointed to the Reliance Retail Board of Directors. Zainulbhai is also an independent director on the Board of Reliance Jio.
Akash is a Brown University graduate with major in Economics, and had reportedly been working on RIL’s 4G telecom venture. Isha graduated from Yale University with double majors in Psychology and South Asian Studies. She had brief stint at McKinsey & Co’s New York office as a business analyst.
We had earlier reported that the RIL board of directors had approved (pdf) appointment of Akash and Isha as directors of Reliance Jio and Reliance Retail, respectively. At the time the company had also said that Akash Ambani was closely involved in the development of products and digital services applications at Reliance Jio.
Financials: Reliance Jio reported a net loss of Rs 7.68 crore for the six month ended September 30, 2014, a significant increase from Rs 4.06 crore net loss reported in the corresponding six month period last year. Note that Reliance Jio hasn’t yet launched its services commercially in India. In the six month period ended March 31, 2014, the company had posted net loss of Rs 6.45 crore.