Kathmandu. Sushildev Subedi, who was the Chief Executive Officer (CEO) of Insurance Institute Nepal even after being promoted to the post of Executive Director of the Nepal Insurance Authority, has stepped down from the post.
Subedi stepped down from the post after Insurance News drew the attention of the regulator regarding the issue of his continuing as CEO of the institute even after being promoted to the post of Executive Officer. He has now been nominated for the post of chairman due to the provision that the executive director of the authority is the chairman of the board of directors of the institute.
After the mandatory retirement of the then executive director Rajuraman Poudel in Ashar, the responsibility of the post of chairman of the institute was taken over by Deep Prakash Pandey, CEO of Shikhar Insurance. After the Authority informed the Institute’s Board of Directors that Subedi had been promoted to the post of Executive Director of the Authority, the Institute’s Board of Directors welcomed Subedi as the ex-officio Chairman and congratulated him.
Although Subedi was promoted to the post of Executive Director of the Authority from Chaitra 1, 2081, he was working as the CEO of the Institute until Chaitra 10. The Institute’s website mentioned Pandey as the Chairman of the Board of Directors and Subedi as the CEO. Subedi’s photo and name were removed from the management team soon after Insurance Khabar published the news.
Insurance Institute of Nepal fails to thrive in the shadow of the Insurance Authority
With Subedi’s nomination as president, the CEO position at the institute has become vacant. Since there is no provision to appoint an acting CEO to carry out administrative and managerial work until a CEO is appointed at the institute, Subedi is in a position to work as an ‘unpaid CEO’.
Subedi had assumed the responsibility of the CEO post at the institute since 1st Shrawan 2080 after the mandatory retirement of the then CEO Bhojraj Sharma. Since then, until last Chaitra 10, he had dual responsibilities as the executive director of the authority and the CEO of the institute.
Earlier, the authority had bid farewell to Sharma after Insurance Khabar published news that the then CEO Sharma was still in the post of CEO even after his service period had been completed. He is currently working as a resource person at the institute.
