New Delhi (India), 12th March 2023: On March 11, the Indian government announced that current Life Insurance corporation of India (LIC) chairperson, MR Kumar won’t get an extension and Siddhartha Mohanty, who currently serves as Managing Director and Chief Executive officer, will become the interim Chairman of LIC.
This confirmed that Kumar’s term as Chairperson of LIC of India will be completed on March 13, 2023 and Siddhartha Mohanty will take charge from March 14 for a period of three
months.
In compliance with Regulation 30 of the SEBI(LODR) Regulations, 2015, the Department of Financial Services, Ministry of Finance, Govt of India, approved the appointment of Siddhartha Mohanty. In addition to Siddhartha Mohanty’s own duties, this appointment grants him the financial and administrative powers and functions of the Chairperson, LIC.
This will continue until a regular appointee takes over or until further orders, whichever is the earliest.
