Archive · 8 Jun 2025
Sat Pal Bhanoo Appointed Interim MD & CEO of LIC
Imagine a big insurance company called LIC.
The person in charge, the CEO, had their job end.
For a little while, the company needed someone else to be in charge.
So, they picked one of the top people already working there, Sat Pal Bhanoo.
He is now also the CEO for three months, starting in June 2025.
This means he's in charge of the company's money and all the important decisions.
This is temporary, and he'll stop being the CEO either when a new CEO is hired, or after three months, or if the company decides otherwise.
This change was announced to everyone, including the people who own shares in the company.
Sat Pal Bhanoo, a LIC Managing Director, has been assigned the additional charge of MD and CEO.
The assignment is for a period of three months, effective June 8, 2025.
Bhanoo's tenure will last until September 7, 2025, or until a regular CEO is appointed, or further notice.
The Department of Financial Services approved the temporary assignment.
This development was disclosed to stock exchanges and published on LIC's website.
- Who
- Sat Pal Bhanoo, a LIC Managing Director.
- What
- Bhanoo is assigned the additional charge of MD and CEO of Life Insurance Corporation of India.
- When
- Effective June 8, 2025, for three months.
- Where
- Life Insurance Corporation of India.
- Why
- Due to the completion of the term of Siddhartha Mohanty as CEO and MD of LIC.
- Interim CEO
- Sat Pal Bhanoo
- Effective Date
- June 8, 2025
- Duration
- 3 months
- Approval
- Department of Financial Services
- Previous CEO
- Siddhartha Mohanty
