Appointment To Additional Role Effective Immediately

AeroVironment has named Wahid Nawabi as president of the company 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.

(Source: AeroVironment news release. AeroVironment Global Observer UAV pictured in file photo)

FMI: www.avinc.com