ING Vysya Life executive V-P quits for FMCG job

BANGALORE: Gautam Sharma, the executive vice-president(marketing) of the city-based ING Vysya Life Insurance, has quit the company. Mr Sharma like many of his peers in the insurance industry is a former FMCG man.

He came to ING Vysya Life about five years ago and was earlier with the Indian arm of the confectionery MNC Perfetti. Mr Sharma is reportedly moving to Mumbai to join an FMCG, sources said.

While exits in corporates are common, the exit of Mr Sharma comes close on the heels of the appointment of an Indian CEO in the company. Kshitij Jain, till recently the director of sales in ING Vysya Life Insurance, was appointed CEO in place of Frank Koster, the former CEO and ING representative. Mr Koster moved to the ING headquarters in Amsterdam.

Mr Jain’s appointment came after the shareholding in the company underwent a change with both ING Vysya Bank and the GMR Group divesting their stakes in favour of Gujarat Ambuja (now in the hands of cement major, Holcim) and battery giant, Exide Industries.

Attempts to contact Mr Sharma and Mr Jain, CEO, went in vain.