Vivek Rae appointed as Chairman of HOEC

Former Oil Secretary Vivek Rae Thursday appointed as Chairman of Hindustan Oil Exploration Company Ltd, the firm said.

This followed the resignation of Sunil Behari Mathur as a non-executive independent director and chairman of the company effective April 17, 2019.

"Based on the recommendations of the Nomination and Remuneration Committee, the Board of Directors have appointed Vivek Rae as an Additional Director (Non-Executive Independent) and Chairman of the company with effect from April 18, 2019," the company said in a statement.

Rae, 65, an IAS officer of 1978 batch from Union Territory cadre, was the topmost bureaucrat in the Ministry of Petroleum and Natural Gas from January 2013 to February 2014 when he superannuated.

Subsequent to his retirement, he served as a whole-time member of the 7th Central Pay Commission from February 2014 to November 2015 and was on the Board of Indian Oil Corporation Ltd as an Independent Director during 2017-18.

An economics graduate from St Stephen's College, Rae has been an invitee to the Prime Minister's annual consultation with global experts on oil and gas, convened by Niti Ayog, during 2016-2018.

P Elango, Managing Director, HOEC, said: "We would like to gratefully acknowledge the significant contribution made by Mathur as an Independent Director and Chairman of the Board and wish him well. We are also delighted to welcome Mr Vivek Rae as our new Chairman".

"During his stint as Petroleum Secretary, he led multiple initiatives to transform the oil and gas sector. His vast experience in administration and knowledge of policy and economic environment would add significant value to HOEC and we look forward to growing responsibly under his able guidance," he said.