Money & Banking

BBB to conduct interviews for top posts at LIC on Jan 4

Surabhi Mumbai | Updated on December 31, 2018 Published on December 31, 2018

Based on the recommendations of the BBB, the government is likely to take a decision by the end of January

With the top management at state-owned Life Insurance Corporation of India set to retire over the next few months, the Banks Board Bureau has called eight candidates for interviews to the posts of Chairman, and Managing Director on January 4.

LIC Chairman VK Sharma retired on Monday (December 31), while three of its MDs are to retire early next year. These include: Sunita Sharma, who will retire in March 2019, followed by B Venugopal, in May 2019, and then Hemant Bhargava, in July 2019. The fourth post of MD at the country’s largest life insurer also remains vacant following the retirement of Usha Sangwan on September 30, 2018.

According to the LIC Act, the top management of the life insurer includes Chairman and the four MDs, and typically one of the MDs is selected to head it. However, with all top posts getting vacant in quick succession, this is perhaps one of the few instances when the government has called Executive Director-grade officers for the interview.

These include: Vipin Anand, Zonal Manager, Mumbai; MR Kumar, Zonal Manager, Delhi; HS Shashi Kumar, Zonal Manager, Bhopal; TC Susheel Kumar, Zonal Manager, Hyderabad; K Ganesh, Executive Director, Customer Relationship Management; Mukesh Kumar Gupta, Executive Director, Personnel; and Raj Kumar, CEO of LIC Mutual Fund, among others.

Based on the recommendations of the BBB, the government is likely to take a decision by the end of January. Sources said the government is keen to ensure continuity at the top level in LIC.

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Published on December 31, 2018
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