Bhubaneswar: Odisha born Siddhartha Mohanty has been appointed as the Managing Director (MD) of Life Insurance Corporation (LIC) with effect from February 1.
At present, Siddhartha Mohanty is the incumbent Chief Executive Officer (CEO) of LIC Housing Finance.
Mohanty, will replace TC Suseel Kumar as the LID MD. Suseel is set to retire on January 31.
“The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for appointment of Shri Siddhartha Mohanty, CEO, LIC Housing Finance as MD, LIC, in the pay scale of Rs 205,400 – Rs 224,400 with effect from the date of his assumption of charge of the post on or after 01.02.2021 and up to the date of his superannuation or until further orders, whichever is earlier”, stated a notification.