Jio Platforms appoints new CEO ahead of planned IPO

Jio Platforms has reportedly appointed long-time executive Pankaj Pawar as its new CEO, replacing Kiran Thomas ahead of the company’s expected initial public offering.

According to The Economic Times, citing draft IPO documents filed with market regulator Securities and Exchange Board of India, Thomas stepped down on 23 March, with Pawar assuming the role the following day.

Pawar currently serves as managing director of Reliance Jio Infocomm, the telecom subsidiary that operates the Jio mobile network. The IPO filing credits him with more than 30 years of experience building and scaling consumer and digital businesses.

Jio Platforms is the digital holding company that owns Reliance Jio Infocomm, as well as Reliance Industries’ digital businesses spanning telecoms, digital services and technology investments.

The Economic Times reported that Thomas no longer features among Jio Platforms’ key executives in the IPO filing, despite having been a prominent figure at Reliance Industries’ annual general meetings since the launch of Jio Platforms.

Reliance Industries Chairman Mukesh Ambani is expected to serve as chairman and non-executive director of Jio Platforms following the listing.

According to the report, Jio Platforms is targeting an IPO that could raise around US$4 billion, making it one of India’s largest public offerings in recent years.