Mumbai:
The Banks Board Bureau(BBB), the official selection body of CMDs, MDs and CEOs, of the public sector banks and insurance companies, has selected Siddhartha Mohanty, CEO, LIC Housing Finance, for the position of managing director in Life Insurance Corporation(LIC).
Mohanty, after getting approvals from the government, will be appointed as the MD of the corporation which will see a vacancy in the smae position after Susheel Kumar retires in February in 2021
Mohanty,after being appointed as the MD of LIC, may be one of the front runner candidates for the chairmanship of LIC after the retirement of incubment MR Kumar in Jun , 2021.
Mini Ipe has been kept as the candidate on the reserve list for the said vacancy.
The BBB interfaced with five candidates from the LIC on Wednesday for forthcoming vacancy of MD of the LIC .
Headed by Kumar, chairman,the corporation has currently four MDs out of which three MDs will be retiring within the next year.After Susheel Kumar, Vipin Anand and Mukesh Gupta will be retiring in July and Oct respecitively.. .
After completing the entire processess, including an approvals by the ACC and PMO, the ministry of finance will notify the name for appointment of MD in the LIC..
Mohanty started his career as a direct recruit officer with the corporation in 1985 and has risen through the ranks to this senior position. Before joining LIC Housing Finance, he was executive director- Legal ,LIC .