Max Life Insurance has appointed its Chief Financial Officer and Senior Director Prashant Tripathy as the new Managing director of the company. Tripathy will take over the new position from January 1, 2019.
The appointment was announced after Managing Director Rajesh Sud decided to quit the company. Sud was associated with the brand for more than 18 years and he handed over his responsibilities to Tripathy after completion of his second five-year term as Executive Vice Chairman and Managing Director of the company, said the company’s official communique.
The company has also elevated the current Senior Director and Chief Operations Officer V Viswanand as the new Deputy Managing director.
These appointments are waiting for the final nod from the regulatory.
Sud will continue his term till December 31, 2018, as Executive Vice Chairman and Managing Director of Max Life. He will continue to be appointed as the non-Executive Chairman Max Bupa and Max Skill-First till March 31, 2019, said the company.
While Tripathy joined Max Life in February 2007 and Viswanand is one amongst the founder team of Max Life.
“Rajesh has built a strong and talented team and a high-quality institution,… Prashant and Viswanand’ elevation is in line with our preference for internal succession and recognition of the strong executive leadership team at Max Life,” said Rahul Khosla, President, Max Group and Chairman, Max Life Insurance.