Life Insurance Corporation (LIC) has got two more managing directors (MDs). The Appointments Committee of the Cabinet has approved the nomination of B Venugopal and Sunita Sharma as MDs for a period of five years or up to the date of their superannuation, whichever is earlier.
With this, the country’s biggest insurer has four MDs now. Hemant Bhargava and Usha Sangwan are the other two MDs.
Last week, the Bank Board Bureau (BBB) had recommended five executive directors for the post of MD and chief executives in five public sector banks.
These EDs are Sunil Mehta of Corporation Bank, Dina Bandhu Mohapatra from Canara Bank, Rajkiran Rai G from Oriental Bank of Commerce, RA Sankara Narayanan from Bank of India and R Subramaniakumar from Indian Overseas Bank.
Meanwhile, three public sector general insurance companies — United India Insurance, Oriental Insurance Company and Agriculture Insurance Company — don’t have regular chairman and managing director with the appointment process getting stuck in the bureaucratic maze.