M Jagannath and Tablesh Pandey recommended for post of MDs at LIC

They are likely to succeed two of the four MDs who are are retiring soon

The Financial Services Institutions Bureau on Monday recommended M Jagannath and Tablesh Pandey for the vacancies of Managing Director (MD) positions in state-owned Life Insurance Corporation (LIC).

Currently, LIC has four MDs, two of whom are retiring from their positions very soon. Raj Kumar, the seniormost MD, who got a years’ extension, is set to hang up his boots on January 31. And, B C Patnaik’s term as MD is to end on March 31 this year.

Jagannath and Pandey are likely to succeed Kumar and Patnaik, respectively.

Further, LIC Chairman M R Kumar’s current term ends this March. Kumar, who was appointed in 2019, had received an extension this year ahead of the insurance behemoth's initial public offering.