LIC’s Chairman MR Kumar may get another tenure extension

MR Kumar, Chairman of the Life Insurance Corporation of India (LIC), is likely to get another extension in office. His tenure in office will likely extend by another 6 to 12 months, according to highly placed sources. Kumar is set to step down on March 13. If Kumar continues to hold the chairman’s role it would be his third extension as Chairman of the insurance behemoth. In March 2019, he was elevated to the Chairman’s office from the position of Zonal Manager (Delhi).

Meanwhile, people close to the matter report that LIC’s Managing Director, Siddharth Mohanty, is also in the race for chairmanship. Mohanty was appointed as MD in February 2021 and would hold office till June 30, 2023, when he is due for superannuation.