AeroVironment, Inc. is a leader in Unmanned Aircraft Systems, Electric Vehicle Charging Systems, and Power Cycling & Test Systems.40 Years of Human Power™

back to press releases

AeroVironment Announces Resignation of Chief Financial Officer

Share

March 31 2010


MONROVIA, Calif., March 31, 2010 -- AeroVironment, Inc. (AV) (NASDAQ:AVAV) today announced the resignation of Stephen C. Wright from his position as senior vice president and chief financial officer effective March 31, 2010. Wright is leaving AV to pursue other business opportunities.

The company also announced that effective March 31, 2010, Jikun Kim has been appointed interim chief financial officer. Kim has served the company as vice president and controller since June 2009.

Tim Conver, AV's chairman and chief executive officer, said, "Steve Wright's financial stewardship successfully supported AV's rapid growth and prepared the company to operate in the public equity markets. On behalf of the board of directors and AV's team members, I thank Steve for his contributions and wish him well in his future endeavors."

Wright will remain with the company through the end of its current fiscal year, which concludes on April 30.

Prior to joining AV, Jikun Kim served with the Raytheon Company for more than eight years, most recently as chief financial officer of Raytheon Vision Systems, a $240 million business. Kim earned an MBA from Columbia Business School, a master's of science degree in Electrical Engineering from the University of California at Los Angeles and a bachelor's of science degree in Electrical Engineering from the University of California at Berkeley.

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. Agencies of the U.S. Department of Defense and allied military services use the company's battery-powered, hand-launched UAS to provide situational awareness to tactical operating units through real-time, airborne reconnaissance, surveillance and target acquisition. AV's clean transportation solutions include power cycling and test systems and industrial electric vehicle charging systems for commercial and institutional customers, in addition to EV home chargers and EV fast chargers for consumers. 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.



# # #

About AeroVironment, Inc. (AV)
AeroVironment is a technology solutions provider that designs, develops, produces 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.

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.

###

Additional AV News: http://www.avinc.com/resources/news
AV Media Gallery: http://www.avinc.com/media_gallery



Contact:
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
.(JavaScript must be enabled to view this email address)

Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
.(JavaScript must be enabled to view this email address)

NOTICE: You are leaving the AeroVironment, Inc. website and are being directed to a website maintained by a third party that is not related to AeroVironment, Inc.

We are not, by referring or linking to such third party website, incorporating its contents. We do not endorse or guarantee, and we disclaim any responsibility for: the content, products or services offered on such linked website, its performance or interaction with your computer, its security and privacy policies and practices, and any consequences that may result from visiting such linked website.

Cancel
OK