LIC to fill posts for 2 MDs; yet to name chairman

Mumbai: State-owned life insurer LIC, which is yet to name a chairman after the incumbent SK Roy in June announced surprise retirement two years ahead of his tenure, is looking at selecting two MDs for which eight EDs have been called for interviews.

The top LIC management consists of the chairman and three MDs.

Currently, there are two managing directors - VK Sharma and Usha Sangwan - as the government is yet to name the replacement for SB Mainak, who retired early this year.

Another MD's post may fall vacant if one of the two MDs is appointed the next chairman. The government is likely to choose either Sharma or Sangwan as the next chairman.

The government had cancelled the post of the fourth MD The move came even after it interviewed five EDs for the same a year ago.

According to sources, the executive directors likely to be called for the the interview for the two posts of MDs include Rajesh Kandwal (CEO of LIC Bahrain), Hemant Bhargava (head North zone), Venu Gopal (Western zone head), Vinay Sah (marketing head), Sharad Srivastava (ED personnel), Sarojini Dikhale (CEO of LIC Mutual Fund), Sunita Sharma (CEO of LIC Housing Finance) and K Ganesh (ED, customer relationship management).

The sources said the interview is likely to be held shortly though an official communication is awaited from the Finance Ministry.

Roy had put in his papers on June 20. LIC insiders say that he has sought to be relieved of his responsibilities by September 20, though official word has not been out yet.