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Rear Admiral Daniel H. Stone Joins AeroVironment as Vice President of Its Unmanned Aircraft Systems Logistics Operation
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July 25 2007
MONROVIA, CA., July 25, 2007 -- AeroVironment, Inc. (AV) (NASDAQ: AVAV), a leader in unmanned aircraft systems and efficient energy systems, today announced that U.S. Navy Rear Admiral, Daniel H. Stone, has joined the company as vice president of its Unmanned Aircraft Systems (UAS) logisitics operation. AV's logistics operation supports all of the company's globally deployed small UAS, including Raven, Dragon Eye, Wasp and Puma.
Stone brings more than 20 years of supply and logistics experience in the Navy to AeroVironment, most recently serving as the Commander of the Naval Supply Systems Command. Previously he held positions as the initial Director of Logistics for U.S. Northern Command and North American Aerospace Defense Command (NORAD), and Director, Logistics, Fleet Supply and Ordnance for the U.S. Pacific Fleet based in Pearl Harbor.
"Dan's experience as the commander of the U.S. Navy's logistics operation will be a significant advantage in ensuring maximum and efficient support to our customers as our cumulative base of deployed small unmanned aircraft systems continues to increase rapidly throughout th world," said Tim Conver, president and chief executive officer, AV. AV has delivered more than 6,000 small UAS to U.S. Armed Forces and allied military forces worldwide and its Raven has logged nearly 25,000 flight hours with the U.S. Army alone.
While Commander of the Naval Supply Systems Command, Stone managed the Navy's largest fulfillment/supply chain organization of 25,000 employees and $8 billion in sales. He also led a global network of customer support operations, aircraft/ship/submarine inventory control points, and the Navy's supply chain and financial software development organization. Stone was responsible for improving supply chain performance for more than 1 million annual orders from U.S. combat operations and 21 foreign navies.
Stone said, "This is an exciting opportunity to apply my experience and knowledge to such a dynamic and innovative company. I look forward to helping expand AV's logistics activities and continue the world class support that it has provided to its customers."
AV provides global logistics support for all its unmanned aircraft systems in the field. This support includes operational training, system repair and refurbishment. AV's logistics operations are headquartered in Simi Valley, Calif. with forward deployed personnel supporting a depot in Iraq.
# # # Stone brings more than 20 years of supply and logistics experience in the Navy to AeroVironment, most recently serving as the Commander of the Naval Supply Systems Command. Previously he held positions as the initial Director of Logistics for U.S. Northern Command and North American Aerospace Defense Command (NORAD), and Director, Logistics, Fleet Supply and Ordnance for the U.S. Pacific Fleet based in Pearl Harbor.
"Dan's experience as the commander of the U.S. Navy's logistics operation will be a significant advantage in ensuring maximum and efficient support to our customers as our cumulative base of deployed small unmanned aircraft systems continues to increase rapidly throughout th world," said Tim Conver, president and chief executive officer, AV. AV has delivered more than 6,000 small UAS to U.S. Armed Forces and allied military forces worldwide and its Raven has logged nearly 25,000 flight hours with the U.S. Army alone.
While Commander of the Naval Supply Systems Command, Stone managed the Navy's largest fulfillment/supply chain organization of 25,000 employees and $8 billion in sales. He also led a global network of customer support operations, aircraft/ship/submarine inventory control points, and the Navy's supply chain and financial software development organization. Stone was responsible for improving supply chain performance for more than 1 million annual orders from U.S. combat operations and 21 foreign navies.
Stone said, "This is an exciting opportunity to apply my experience and knowledge to such a dynamic and innovative company. I look forward to helping expand AV's logistics activities and continue the world class support that it has provided to its customers."
AV provides global logistics support for all its unmanned aircraft systems in the field. This support includes operational training, system repair and refurbishment. AV's logistics operations are headquartered in Simi Valley, Calif. with forward deployed personnel supporting a depot in Iraq.
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.
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AeroVironment, Inc.
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