SBI Life Insurance Company on September 28 said its Board has appointed a new Managing Director & CEO after the current one is being transferred to take position in parent State Bank of India.
The Board of Directors, at its meeting held on September 28, approved the appointment of Amit Jhingran as the MD & CEO of the company with effect from October 01, 2023,” the company said in a regulatory filing.
Amit Jhingran joined State Bank of India as a Probationary Officer in August 1991. In a career spanning over 30 years with SBI, he has held various assignments across International Banking, Retail Banking and Branch Management.
Prior to this, he was posted as Chief General Manager, Hyderabad Circle and as CEO of SBI, Chicago. He has also held various responsibilities during his career including Regional Manager and has also headed various branches under his direct control.
The present MD & CEO of the company, Mahesh Kumar Sharma, has been posted as Deputy Managing Director in SBI, Corporate Centre and accordingly will be relieved of his duties from the close of business hours on September 30, 2023.
Ahead of the announcement, SBI Life Insurance ended down 1 percent at Rs 1288.40 on the BSE.
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