LIC i.e. Life Insurance Corporation of India is going to get Chief Executive Officer i.e. CEO soon. According to the news agency Reuters report, government officials said that there is a need to bring LIC on a new track and for this there is a plan to appoint the first Chief Executive Officer ie CEO for the insurance company. If reports are to be believed, the government is planning to broaden the eligibility criteria for the appointment of LIC CEO, so that private sector candidates can also apply for the same.

According to the report, LIC currently works under the leadership of the chairman, but this post will be abolished after March. After this, the government will appoint a CEO from the private sector. Significantly, to implement this scheme, changes were made in the law governing LIC last year. If this plan comes into force, then for the first time in the 66-year history of LIC, the company will get a CEO. Let us tell you that LIC manages a fund of about Rs 41 lakh crore. However, there has been no official response from the Ministry of Finance, which oversees LIC.

With regard to the appointment of the new CEO of LIC, it is believed that the shareholders will be benefited by this step of the government. Let us tell you that since the listing in May last year, the fall in the price of LIC shares is continuing. LIC's share price has not even touched the IPO issue price till now. It has registered a decline of up to 30% from the issue price, while investors have suffered a loss of about 2 lakh crores.