MONROVIA, Calif.--(BUSINESS WIRE)--
AeroVironment,
Inc. (NASDAQ:AVAV) today announced the appointment of Raymond Cook
as senior vice president and chief financial officer, effective
immediately. Cook succeeds Teresa Covington, who has served as interim
chief financial officer since February 5, 2015. Teresa will remain Vice
President, Finance. The company's announcement follows an extensive
search conducted by the Board of Directors, with the assistance of a
leading global executive search firm, to identify a new chief financial
officer.
Tim Conver, AeroVironment chairman and chief executive officer, said,
"Raymond's nearly 30 years of financial experience, combined with
high-tech manufacturing expertise, is an ideal fit for AeroVironment.
Following a thorough search, we're delighted to welcome Raymond to our
executive team, as we continue to strengthen our market leadership
positions, move key programs forward to generate long-term value, and
reinforce our strategic plan. We look forward to working closely with
Raymond to extend our track record of successfully driving innovation."
Conver continued, "On behalf of everyone at AeroVironment, I want to
thank Teresa for assuming the additional responsibilities over the past
five months and look forward to benefiting from her expertise through
her continued service at AeroVironment."
"I am very proud to be affiliated with a company as highly accomplished,
forward-thinking and respected as AeroVironment," said Cook. "It's an
honor to be part of a company that is committed to excellence and
customer service."
About Raymond Cook
Prior to joining AeroVironment, Cook was senior vice president and chief
financial officer at Silicon Image, Inc., a provider of video, audio and
data connectivity solutions for mobile, consumer electronics and
enterprise markets, in Sunnyvale, Calif. In his role at Silicon Image,
Cook served as a financial, business and strategic adviser to senior
management and the board of directors, and oversaw all areas of
financial planning and analysis, including annual operation planning,
accounting, consolidations, SEC reporting, investor relations, corporate
business development and strategy, treasury, and stock administration
for the multi-national company. Cook previously served as executive vice
president and chief financial officer of STEC, Inc., a leading global
manufacturer of enterprise-class solid-state data storage solutions, and
as vice president, finance and corporate controller of Mindspeed
Technologies, Inc., a developer of semiconductor solutions for
communication applications in wireless networks.
Cook earned his Master's in Business Administration in Finance and
Bachelor of Science in Accounting degrees from Loyola Marymount
University in Los Angeles, Calif.
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 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.
Forward-looking Statements
This press release contains "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, without limitation, any statement
that may predict, forecast, indicate or imply future results,
performance or achievements, and may contain words such as "believe,"
"anticipate," "expect," "estimate," "intend," "project," "plan," or
words or phrases with similar meaning. Forward-looking statements are
based on 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 the forward-looking statements. Factors that
could cause actual results to differ materially from the forward-looking
statements include, but are not limited to, 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; the activities of competitors; failure of the
markets in which we operate to grow; failure to expand into new markets;
changes in significant operating expenses, including components and raw
materials; failure to develop new products; changes in the regulatory
environment; 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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View source version on businesswire.com: http://www.businesswire.com/news/home/20150707006528/en/
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
pr@avinc.com
or
For
AeroVironment, Inc.
Mark Boyer
+1 (310) 229-5956
mark@boyersyndicate.com
Source: AeroVironment, Inc.
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