M R Kumar made LIC chairman, two more MDs appointed
M R Kumar’s appointment is a bit of a surprise, since the chairman was expected to be appointed from the shortlisted executive directors.
Published: 14th March 2019 08:28 AM | Last Updated: 14th March 2019 08:28 AM | A+A A-
Image used for representational purpose only. (File Photo | Reuters)
The government made three appointments on Wednesday in India’s largest life insurer — Life Insurance Corporation (LIC) — appointing M R Kumar as the chairman and Vipin Anand and TC Suseel Kumar as the managing directors (MD). Managing director Hemant Bhargava had been named interim chairman after former chairman V K Sharma’s retirement on December 31, 2018.
Of the two MD positions filled on Wednesday, one has remained vacant since the superannuation of Usha Sangwan in September last year and the other will fall vacant after the scheduled retirement of Sunita Sharma in March 2019.
LIC’s board boasts four managing director spots. M R Kumar currently runs the insurer’s Delhi zone as Zonal Manager, Suseel Kumar is Zonal Manager, Hyderabad, and Anand is Zonal Manager of the Western zone.
M R Kumar’s appointment is a bit of a surprise, since the chairman was expected to be appointed from the shortlisted executive directors. This is the first time an interview for the top position was conducted by the Banks Board Bureau.
