LIC New MD: M Jagannath and Tablesh Pandey become new MDs of LIC, will replace two retiring officers.
Life Insurance Corporation of India (LIC) on Tuesday announced the appointment of Tablesh Pandey and M Jagannath as Managing Directors of the Corporation with effect from March 13, 2023. The two managing directors retiring from the corporation this week are Raj Kumar and BC Patnaik. LIC said in a notice sent to the stock exchanges, “M Jagannath has taken over as the Managing Director of the corporation on March 13, 2023.” On the other hand, the appointment of Tablesh Pandey will be effective from April 1, 2023.
New MD M Jagannath appointed in place of retiring MD Raj Kumar
In a statement issued by the insurance company, it has been said that, “As per Government of India’s notification No. 11011/11/2022-Ins.I dated 13th March 2023, M Jagannath, Regional Manager (In-Charge) of South Central Zone, Hyderabad has been appointed as Indian has been appointed as the Managing Director of Life Insurance Corporation (LIC). He will replace the retiring Managing Director Raj Kumar. He will continue to hold office until further orders or until his superannuation, whichever is earlier. He assumed office on 13 March.
New MD Tablesh Pandey will replace the retiring MD BC Patnaik.
Life Insurance Corporation (LIC) on Tuesday also promoted the company’s Executive Director Tablesh Pandey to the post of Managing Director. In the information sent to the stock exchanges, it has been said that his appointment will be effective from April 1. Pandey will replace the current Managing Director BC Patnaik. LIC currently has four Managing Directors. According to an official notification, the company said, “Tablesh Pandey, executive director of Life Insurance Corporation of India (LIC), has been appointed as managing director in place of BC Patnaik, vice-chairman of LIC.”
M Jagannath had joined LIC in the year 1988 as DRO.
Jagannath joined LIC in the year 1988 as a Direct Recruit Officer (DRO). LIC’s new MD M Jagannath has vast marketing experience. Jagannath is a commerce graduate and CA (Inter). He has also done PG Diploma in Marketing. He has worked as Senior Divisional Manager in charge of Ernakulam, Dharwad and Bangalore I Divisions. Jagannath has also served as the CEO and MD of LIC (Lanka) Limited. On this post, for four years from 2009 to 2013, he was posted in Colombo, the capital of Sri Lanka. He worked as Zonal Manager, South Central Zone, Hyderabad in his previous tenure. During that time, the three states that came under his responsibility included Telangana, Andhra Pradesh and Karnataka.
