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The Company Announces Q3 2024 Results

Michael Bissonette Appointed Vice President and General Manager of AeroVironment's Energy Technology Center

March 10, 2008 at 12:00 AM EDT
Michael Bissonette Appointed Vice President and General Manager of AeroVironment's Energy Technology Center

MONROVIA, Calif., Mar 10, 2008 (BUSINESS WIRE) -- AeroVironment, Inc. (AV) (NASDAQ: AVAV), a leader in unmanned aircraft systems and efficient electric energy systems, today announced that Michael Bissonette, formerly assistant general manager of AV's Energy Technology Center (ETC), has been appointed vice president and general manager of the ETC. Bissonette assumes the role previously occupied by Joseph Edwards, who has stepped down in preparation for his retirement.

"Mike brings a wealth of experience, with more than 25 years supporting and leading new product development initiatives in technology and aerospace businesses. Since joining AV he has demonstrated the skills and dedication necessary to lead this strategic segment of our business," said Tim Conver, chairman, chief executive officer and president of AV. "I wish to thank Joe Edwards for his 11 years of outstanding contributions to AeroVironment, first as chief financial officer then as general manager of the Energy Technology Center. We will miss his wisdom, honesty, and wit."

AV's Energy Technology Center focuses primarily on the development of innovative, efficient electric energy technologies for internal and external customers, and also develops, produces and supports a line of electronic test equipment used for research and development activities. The ETC developed the Advanced Battery Charger sold with AV's small unmanned aircraft systems (UAS), and the propulsion system developed for AV's Global Observer stratospheric persistent UAS, which is under development. Architectural Wind, an innovative clean energy generation system for buildings, is also a development program underway within the ETC.

Prior to joining AV, Bissonette served as senior director of new product introduction program management for Western Digital Corporation, where he worked for 11 years. A native of New York, Bissonette has resided in Southern California for the past 28 years.

Edwards will remain with AeroVironment through April 2008 focusing on special projects for the office of the chairman.

About AeroVironment, Inc. (AV)

Building on a history of technological innovation, AV designs, develops, produces, and supports an advanced portfolio of Unmanned Aircraft Systems (UAS) and efficient electric energy systems. The company's small UAS are used extensively by agencies of the U.S. Department of Defense and increasingly by allied military services to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance, and target acquisition. AV's PosiCharge® fast charge systems eliminate battery changing for electric industrial vehicles in factories, airports, and distribution centers. More information about AV 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.

SOURCE: AeroVironment, Inc.

AeroVironment, Inc.
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