Life Insurance Corporation of India (LIC) has announced the departure of two long-standing Independent Directors, Shri Vinod Kumar Verma and Dr. Ranjan Sharma. Their tenure concluded on April 28, 2026. With this change, both individuals have effectively vacated their respective positions on various internal committees, including the Audit, Investment, and Risk Management boards. The Corporation has initiated the standard disclosure process to reflect these updates to its governance structure.
Completion of Board Tenure
Life Insurance Corporation of India (LIC) has confirmed that Shri Vinod Kumar Verma and Dr. Ranjan Sharma have stepped down from their roles as Independent Directors. Their exit coincides with the formal completion of their respective terms, effective from the close of business on April 28, 2026.
Impact on Committee Governance
Following their departure, both individuals have ceased to serve as members or chairpersons of the committees they previously oversaw. Shri Vinod Kumar Verma was a key participant in several critical groups, including the Investment Committee, the Audit Committee, and the Risk Management Committee. Notably, he also served as the Chairperson of the Stakeholders Relationship Committee.
Dr. Ranjan Sharma concludes his involvement in several oversight bodies, including the Executive Committee, the Nomination and Remuneration Committee, and the Committee for Review of Wilful Defaulters. He also held the position of Chairperson for the Policyholder Protection, Grievance Redressal and Claims Monitoring Committee. Both directors maintained joint participation in the Building Advisory Committee and the Nomination and Remuneration Committee prior to their exit.
Source: BSE
