AeroVironment Appoints Teresa Covington Chief Financial Officer
December 20 2016 - 09:10AM
Business Wire
AeroVironment, Inc. (NASDAQ:AVAV) today announced the
appointment of Teresa Covington as chief financial officer,
effective March 1, 2017. Covington will succeed Raymond Cook, who
is resigning as senior vice president and chief financial officer,
effective February 28, 2017 due to medical reasons.
Wahid Nawabi, AeroVironment president and chief executive
officer, said, "The Board of Directors, our employees and I thank
Raymond for his service and appreciate his willingness to support
Teresa during this transition.”
“Teresa has been a critical member of our leadership team since
she joined AeroVironment 5 years ago,” Nawabi added. “She has 25
years of financial leadership experience and exceptional industry
knowledge, including as interim CFO of AeroVironment. I am excited
to work closely with Teresa in her new role as we execute our
business strategy to continue driving long-term value for our
shareholders, customers and employees.”
About Teresa Covington
Since joining AeroVironment in 2011, Teresa Covington has
provided financial leadership to AeroVironment and its EES business
segment and has served as a senior member of the company’s finance
team. Covington served as the company’s interim chief financial
officer from February 5, 2015 to July 7, 2015. Covington’s
responsibilities included financial analysis, planning, accounting,
credit and collections as well as launching and leading a new
product line management organization.
Prior to joining AeroVironment, Covington served as senior vice
president and chief financial officer at Line 6, a global designer
and manufacturer of musical instruments now part of Yamaha.
Covington earned her master’s in business administration from
Stanford University Graduate School of Business, a master’s in
electrical engineering from the University of Southern California
and a Bachelor of Science in electrical engineering from the
University of Illinois at Urbana-Champaign.
About AeroVironment, Inc.
AeroVironment (NASDAQ: AVAV) provides customers with more
actionable intelligence so they can proceed with certainty. Based
in California, AeroVironment is a global leader in unmanned
aircraft systems, tactical missile systems and electric vehicle
charging and test systems, and serves militaries, government
agencies, businesses and consumers. For more information visit
www.avinc.com.
Safe Harbor Statement
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;
availability of U.S. government funding for defense procurement and
R&D programs; changes in the timing and/or amount of government
spending; risks related to our international business, including
compliance with export control laws; potential need for changes in
our long-term strategy in response to future developments;
unexpected technical and marketing difficulties inherent in major
research and product development efforts; changes in the supply
and/or demand and/or prices for our products and services; the
activities of competitors and increased competition; failure of the
markets in which we operate to grow; failure to remain a market
innovator and create new market opportunities; changes in
significant operating expenses, including components and raw
materials; failure to develop new products; the extensive
regulatory requirements governing our contracts with the U.S.
government; product liability, infringement and other claims;
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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AeroVironment, Inc.Steven Gitlin+1 (626)
357-9983ir@avinc.com
AeroVironment (NASDAQ:AVAV)
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