LIC To Rejig Top Brass In April

Mumbai: Out of five existing managing directors at Life Insurance behemoth Life Insurance Corporation (LIC), three including MD and CEO, Siddhartha Mohanty, will be retiring by the first week of June.

The head hunting agency for selecting officials above executive directors of state owned financial institutions, Financial Services Institutions Bureau (FSIB) is likely to conduct interaction for selecting a new MD & CEO in place of Mohanty somewhere in June after two new MDs assume their office.

Out of five existing managing directors of the state-owned Corporation, three including MD and CEO Siddhartha Mohanty will be retiring by the first week of June.

In April 2023, the government had appointed Mohanty as the chairman of the Corporation until June 2024, and then elevated him to MD and CEO until June 6, 2025 when he turns 62.