Mukesh Ambani sets succession plan in motion by promoting his children

On Tuesday, the 65-year-old tycoon made way for his first-born Akash Ambani to become the chairman of India's No. 1 wireless carrier Reliance Jio Infocomm Ltd. Akash's twin sister Isha, 30, is set to be appointed chair of Reliance's retail arm, and an announcement is expected as early as Wednesday, people familiar with the matter said. The company declined to comment.