The government recently appointed S K Roy as chairman of Life Insurance Corporation of India. The Appointments Committee of the Cabinet (ACC) has already cleared his name. The notification in this regard has been issued, sources said.
Roy, whois a managing director at LIC, would be succeeding D K Mehrotra, whose term as LIC chief ended on May 31. Roy would be at the helm of the insurance behemoth for a period of five years, official sources said, adding, he would assume charge on July 1. Others in fray for the top job were managing director Sushobhan Sarkar and executive director S B Mainak.
Roy joined LIC in 1981. On May 31, 2013, he assumed charge as MD along with Thomas Mathew and Sarkar.