SIMI VALLEY, Calif.--(BUSINESS WIRE)--
AeroVironment,
Inc. (NASDAQ:AVAV) today announced Wahid Nawabi has been
named president in addition to his role as chief operating officer,
effective immediately. Tim Conver will continue as chairman and chief
executive officer of AeroVironment.
"Wahid's effective leadership as chief operating officer has contributed
to significant improvements in our focus and operational effectiveness,"
said Mr. Conver. "As president and chief operating officer, Wahid will
continue to focus on executing our operating plan while taking on a
larger role in our strategic planning process to drive continued value
creation. I look forward to working closely with Wahid to continue
building on our operational and financial momentum."
"It is an honor to be named president of AeroVironment," said Mr.
Nawabi. "I am excited to take on the role and continue working with Tim
and the rest of the management team as we pursue innovative growth
opportunities to deliver compelling value for our customers and
stockholders."
Wahid Nawabi, 46, has served as chief operating officer of the Company
since April 2015. He joined AeroVironment in 2011 as senior vice
president and general manager of the EES business segment, where he led
the redesign of the segment's business strategy and successfully
launched a number of innovative new products. Mr. Nawabi also led
multiple business process improvement projects, which led to significant
enhancements in operational efficiency. He then led the integration of
functional organizations into a single corporate shared services model
across both UAS and EES business segments and all product lines. Before
joining AeroVironment, Nawabi worked with global technology companies in
industries spanning industrial/electrical equipment manufacturing and
clean technology. Nawabi initiated and led the Enterprise/Data Center
business at APC, which was later acquired by Schneider Electric, growing
revenue to $600 million between 2000 and 2008. Nawabi also previously
led C&D Technologies' Americas business.
About AeroVironment, Inc.
AeroVironment is a technology solutions provider that designs, develops,
produces, supports and operates an advanced portfolio of Unmanned
Aircraft Systems (UAS) and electric transportation solutions. The
company's electric-powered, hand-launched unmanned aircraft systems
generate and process data to deliver powerful insight, on demand, to
people and enterprises engaged in military, public safety and commercial
activities around the world. 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, our ability to perform under existing contracts and
obtain additional contracts; our reliance on sales to the U.S.
government; changes in the timing and/or amount of government spending;
changes in the supply and/or demand and/or prices for our products and
services; changes in the regulatory environment; 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, including
our most recent Annual Report on Form 10-K and Quarterly Reports on
10-Q. 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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View source version on businesswire.com: http://www.businesswire.com/news/home/20160115005846/en/
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
ir@avinc.com
Source: AeroVironment, Inc.
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