Mathew pips 'seniors' to LIC MD's post

Thomas Mathew T has taken charge as the new managing director for Life Insurance Corporation of India (LIC), replacing K Sridhar. Mathew was earlier the zonal manager for LIC in the western zone.

Questions are already being raised on his appointment as the other top contenders were supposedly senior to him.

The other contenders vying for the post were Roy Chowdhury, executive director (personnel), LIC (central office), Ashok Shah, zonal manager, LIC (northern zone) and T Chattopadhyay, zonal manager, LIC (south central zone).

According to sources, all the four contenders belong to the 10th batch of direct recruit officers, but based on the seniority level and ranking among the directors, Shah should have been selected for the post.

While Shah, Chattopadhyay and Chowdhury have four, five and six years, respectively, to retire, Mathew still has seven years for retirement

"If the other contenders had only a few months for retirement there would have been no reason for dissatisfaction on the appointment of a junior officer. However, with all the contenders having at least four years at their disposal, the senior-most should have been given priority," the source added.

Meanwhile, chairman of LIC, A K Shukla's retirement is also due in April. According to sources, LIC managing directors, D K Mehrotra and T S Vijayan have already been interviewed for the post, but no decision has been taken as yet.