The life insurance company said that MR Kumar, the LIC's current chairman, has not been given an extended term.
Early last month, MR Kumar had said that LIC officials were planning to meet up with the Adani Group's top management to seek clarification on the crisis it was facing post the US-based short-seller Hindenburg Research report.
LIC Chairman MR Kumar speaks on the underperformance of the stock, and the various concerns raised by investors and analysts.
The much-awaited IPO of the state-run insurance behemoth is set to run from May 4-9.
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With the extension, MR Kumar will continue as chairman of LIC till March 2023 or till he attains the age of superannuation.
Insurance sector to remain highly competitive, and LIC is game for it, asserts Kumar
The public insurer is readying itself for higher compliance and answerability to minority shareholders post the listing, says Kumar
Zee has received an injunction order against calling extra ordinary general meeting (EGM) from the Bombay High Court on October 26. The company had also cancelled its board meeting for October 27.
MR Kumar, chairman of India’s largest insurer, due for an IPO next year, on his management style, the book that influenced him and lessons in leadership.