VVC Exploration Corporation announced having accepted the resignation of Patrick Fernet as Chairman and Officer of the company effective immediately. Mr. Fernet will continue as a Director of the company and as a consultant. The Board has appointed Terrence F. Martell, Ph.D. as Chairman of Board.

Dr. Martel is the Saxe Distinguished Professor of Finance at the Zicklin School of Business, Baruch College, City University of New York where he also directs the Weissman Center for International Business. Previously to his current position, he was a senior executive of the Commodity Exchange in New York and is an expert in metals trading, options and derivatives. In addition he is an experienced board member.

He is a Trustee of the City University of New York; a member of the board of ICE Group, the parent of the New York Stock Exchange, where he chairs the Risk Committee; he is Chair of ICE Clear US; he is Vice Chair of ICE Futures US; he is a board member of Ice Clear Credit where he also chairs the Risk Committee; he is a member of the Executive Committee of the Manhattan Chamber of Commerce, among others.