This is to inform that, Department of Financial Services, Ministry of Finance, vide it''s letter ref: F.No. A-11011/04/2025-Ins.I dated June 07, 2025 conveyed the approval of the Competent ....
LICI · price
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LIC has informed stock exchanges that the Ministry of Finance has approved entrusting the powers and functions of the CEO and Managing Director to Shri Sat Pal Bhanoo, an existing Managing Director of LIC. This is a temporary arrangement for three months starting June 8, 2025, ending September 7, 2025, or until a regular appointee takes charge, whichever is earlier. The move fills the top post on an interim basis while a permanent CEO-MD is yet to be appointed.
This is a stop-gap leadership arrangement with no change in management direction expected, as an internal MD has been given additional charge. Shareholders should watch for the appointment of a regular CEO-MD within the next three months, which could be a meaningful event for the stock.