Senior executive director of Life Insurance Corporation (LIC) SK Roy has been appointed the managing director of the corporation. Incidentally, Roy is also a contender for the chairmans post that falls vacant on May 31, following superannuation of RK Mehrotra. The government has notified the order for the appointment of Roy who is currently the zonal manager for East on Thursday. However, it is not yet known who would succeed Mehrotra who had held the post for last two years. A panel headed by the department of personnel & training secretary PK Misra had interviewed five candidates for the chairman post. Those interviewed are LICs MD Sushobhan Sarkar, LIC Housing Finance MD & CEO VK Sharma, and three executive directors of LIC SB Mainak, SK Roy and Usha Sangwan. Sarkar who took over as LIC MD in February 2012 has handled its businesses in various regions, including including international operations as well as the CEO of LIC Mutual Fund. Mainak is the ED in charge of its investments.