Himalayan Life Insurance Limited has invited applications for a permanent Chief Executive Officer (CEO) as the company seeks to strengthen its management and corporate governance following a period of internal disputes and regulatory scrutiny.

The company plans to select an experienced professional through an open competitive process. The move comes amid changes in senior management, disputes related to promoter share transactions and concerns surrounding institutional investments and share purchases.

Former CEO Manoj Kumar Lal Karn had resigned following growing dissatisfaction over his management style, disputes with employees and agents, and various internal issues within the company. Since his departure, the company has been operating under interim management.

Several financial and institutional transactions linked to the company have also attracted regulatory attention. Issues involving institutional investments, securities transactions, promoter shares and the purchase of NRIC shares have been subject to scrutiny.

The controversy has also involved concerns over the use of institutional funds and share market transactions. Regulatory authorities and Nepal Police’s Central Investigation Bureau (CIB) have taken interest in matters connected to the company.

Meanwhile, prolonged protests and pressure from employees and insurance agents added to the company’s management challenges and deepened its leadership crisis.

The appointment of a permanent CEO is therefore seen as an important step toward stabilizing management, strengthening corporate governance and rebuilding the company’s reputation.

The new CEO will face several challenges, including improving regulatory compliance, restoring confidence among policyholders and stakeholders, strengthening relationships with employees and agents, and ensuring disciplined management of institutional investments.