-
Chairman, Chief Executive Officer and President Tim Conver to focus on
long-term growth planning, strategy and value creation
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Senior Vice President Tom Herring to focus on execution of annual
operating plan and operational excellence
-
Unmanned Aircraft Systems (UAS) Deputy General Manager Roy Minson
promoted to general manager, UAS
MONROVIA, Calif.--(BUSINESS WIRE)--
AeroVironment,
Inc. (NASDAQ:AVAV) today announced a realignment of its senior
management team to support its growth plans. The company promoted Senior
Vice President and UAS General Manager Tom Herring to the newly
established position of chief operating officer. Herring will focus on
the planning and execution of the company's annual operating plan and on
operational excellence.
The company also promoted Roy Minson from vice president and deputy
general manager, UAS to senior vice president and general manager of the
UAS business segment. AeroVironment's board of directors approved
Minson's appointment as an officer of the company, effective May 7,
2012. Minson joined
AeroVironment in April 2010 after nearly 30 years of broad
experience in defense and commercial markets to lead UAS business
development and serve as vice president and deputy general manager for
the business segment.
"Tom will focus his attention on the effective execution of our annual
operating plan and the efficient expansion of our capabilities to
support the growth we anticipate. Both Roy Minson and Wahid Nawabi,
general manager of our Efficient Energy Systems business segment, will
now report to Tom," said Tim Conver, AeroVironment chairman, chief
executive officer and president.
AeroVironment pioneered and is now a world leader in the small unmanned
aircraft systems market. According to the latest United
States Department of Defense Unmanned Systems Roadmap, as of July 1,
2011 AeroVironment's RQ-11B
Raven®, RQ-20A
Puma™ and Wasp™
small unmanned aircraft systems represented 85 percent of the Department
of Defense's entire unmanned aircraft fleet. In addition to United
States armed forces, more than a dozen allied military forces employ
AeroVironment small UAS. AeroVironment also helped pioneer the market
for electric vehicle (EV) charging solutions and is now a leader in
industrial EV and passenger EV charging infrastructure solutions, with
deployment of more than 7,000 of its level 2 charging systems in 44
states and multiple Canadian provinces and a growing number of its
networked fast charging stations available for public use.
"Our team's success in growing existing businesses and moving innovative
new products and services to market has been outstanding and other major
product and market developments are coming to fruition. Our senior
management team is now structured to focus diligently on both
operational excellence and the achievement of our long-term growth
plans, and we look forward to continuing to create value for all our
stakeholders," said Conver.
"When I joined AeroVironment in 2009 I was excited by the growth
prospects that lay ahead of the company and by the opportunity to help
realize them," said Herring. "Today I am even more enthusiastic about
our people, our products and services that are so important to our
customers and the multiple, significant growth opportunities we are
pursuing. I look forward to working with Tim and the broader
AeroVironment team in my new role as we continue to deliver valuable new
capabilities to our customers that empower them to be more successful."
About AeroVironment, Inc.
AeroVironment is a technology solutions provider that designs, develops,
produces, operates 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. Multiple government
agencies have helped to fund the development and demonstration of Global
Observer®, a hybrid-electric,
stratospheric UAS designed to provide affordable, persistent
reconnaissance and communication over any location on the globe. Switchblade™
is a loitering munition designed to provide a rapid, lethal, pinpoint
precision strike capability with minimal collateral damage.
AeroVironment's electric transportation solutions include a
comprehensive suite of electric
vehicle (EV) charging systems, installation and data 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; 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. 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
pr@avinc.com
or
For
AeroVironment, Inc.
Mark Boyer
+1 (310) 229-5956
mark@boyersyndicate.com
Source: AeroVironment, Inc.
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