Life Insurance Corporation of India (LIC) managing director Siddhartha Mohanty is set to be the interim chairperson of the insurance major from March 14.
He will be entrusted with financial and administrative powers and functions of chairperson, in addition to his own duties, with the incumbent chairperson M.R. Kumar completing his term on March 13, LIC informed the stock exchange citing a Union Finance Ministry communication.
Mr. Mohanty will be the interim chairperson for three months, with effect March 14, or till assumption of the charge by the regular appointee to the post or until further orders, whichever is the earliest, the Ministry’s Department of Financial Services said.
