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Press Release

December 13, 2011 at 4:35 PM EST

Power Technology Industry Executive Wahid Nawabi Joins AeroVironment as Senior Vice President and General Manager of Efficient Energy Systems Business Segment

  • Senior Vice President Mike Bissonette Transitions to Deputy General Manager
  • Bissonette will Focus on Enhancing Operational Performance

MONROVIA, Calif.--(BUSINESS WIRE)-- AeroVironment, Inc. (NASDAQ: AVAV) today announced that Wahid Nawabi, an experienced executive from the power technology industry, has joined the company as senior vice president and general manager of its Efficient Energy Systems (EES) business segment. AeroVironment's board of directors approved Nawabi's appointment as an officer of the company, effective immediately.

Nawabi joins AeroVironment after a 20-year career as an executive with advanced technology companies in industries spanning clean technology, industrial/electrical equipment manufacturing, telecom, and energy. During his 16 years at American Power Conversion (APC), the company's revenue increased from $50 million to more than $2.4 billion and it became the world leader in power protection. Nawabi started and led the Enterprise/Data Center business at APC, growing revenue to $600 million between 2000 and 2008. He also led C&D Technologies' Americas business. Nawabi earned his undergraduate degree from The University of Maryland at College Park in Electrical Engineering, concentrating in Power.

Mike Bissonette will assume the role of senior vice president and deputy general manager of the EES business segment, and will work closely with Nawabi. Bissonette will oversee program management, production, engineering and quality assurance.

"Our Efficient Energy Systems business segment is poised for continued growth as the demand for electric vehicle solutions accelerates. Wahid brings a demonstrated ability to grow power technology businesses profitably to the benefit of customers, employees and stockholders," said Tim Conver, AeroVironment chairman and chief executive officer. "Mike Bissonette's leadership helped to build this growth platform, and he will now focus on enhancing operational performance to support the growth opportunities we are working to realize," Conver added.

"AeroVironment has a storied history and track record of introducing practical innovations that help its customers succeed," said Nawabi. "The company has established leadership positions in the markets for electric vehicle test systems, industrial electric vehicle charging systems and passenger electric vehicle charging solutions. I look forward to working with Mike and the team to further our market leadership and to realize the potential for this organization," said Nawabi.

About AeroVironment, Inc.

AeroVironment is a technology solutions provider that designs, develops, produces and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and electric transportation solutions. Agencies of the U.S. Department of Defense and allied military services use the company's electric-powered, hand-launched unmanned aircraft systems extensively to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance and communication. AeroVironment's electric transportation solutions include a comprehensive suite of electric vehicle (EV) charging systems, installation and network services for consumers, automakers, utilities and government agencies, power cycling and test systems for EV developers, and industrial electric vehicle charging systems for commercial fleets. More information about AeroVironment is available at www.avinc.com.

Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
For AeroVironment, Inc.
Mark Boyer
+1 (310) 229-5956

Source: AeroVironment, Inc.

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