Govt. names Siddhartha Mohanty as LIC chairperson and first CEO

Govt. names Siddhartha Mohanty as LIC chairperson and first CEO

Daily Current Affairs   /   Govt. names Siddhartha Mohanty as LIC chairperson and first CEO

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Category : Appointment/Resignation Published on: May 01 2023

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  • The Appointments Committee of the Cabinet (ACC) approved the proposal of the Department of Financial Services for the appointment of Siddhartha Mohanty, Managing Director (MD) and interim chairperson, Life Insurance Corporation of India (LIC) as Chairperson till June 29, 2024.
  • He had been serving as the corporation's interim chairman since March.
  • LIC, the country's largest insurer has decided to phase out the chairman post to align with other publicly traded corporations.
  • He began his career with LIC as a direct recruit officer in 1985 and rose through the ranks to the top position.
  • One of four managing directors at LIC, Mohanty had already been chosen as the Chairman in March for a three-month term on the recommendation of the autonomous body FSIB.
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