The Government today appoints Siddhartha Mohanty as the head of LIC until June 2024. Thereafter, he continues as a Chief Executive Officer and Managing Director until 7th June 2025 i.e. upto the date of his attaining the age of 62 years or until further orders. Siddhartha Mohanty attains superannuation in June 2025.

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In March, the Financial Services Institutions Bureau (FSIB) shortlisted Siddhartha Mohanty for the position of Chairman of the Life Insurance Corporation. As per the guidelines, the chairman is selected from the four managing directors of the company and the final call is taken by the government after FSIB makes its recommendation.

The stock is less than 1 percent up on the exchanges at 3pm on Friday.

First Published:Apr 28, 2023 3:13 PM IST