Axial Vector Energy Corporation (Avec) has hired Sanjai Chhaunker as its new president and CEO effective September 10.

Chhaunker will be responsible for all Avec corporate functions — finance, administration, international operations, product development, customer services, sales and marketing. His primary office will be Dubai, UAE.

“The Board has given its full endorsement of Sanjai's plan to use the financial resources of EICA to seek acquisitions of companies and technology for Avec that compliment Avec engine, generator and electric motor technologies,” said Ahmed Khalifa, chairman of Avec.

“Sanjai’s depth of experience and leadership skills will allow us to accelerate our growth and take the company to the next level,” said Arash Masom, senior managing director of Emirates Capital.

Chhaunker has earlier served as finance manager (Projects) with Sanghi Group of Industries, a $500 million business conglomerate, based in Hyderabad, India.-TradeArabia News Service