AeroVironment Chief Operating Officer Wahid Nawabi Named President
January 15 2016 - 4:30PM
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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AeroVironment, Inc.Steven Gitlin+1 (626)
357-9983ir@avinc.com
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