• Tim Conver to retire as chairman of the AeroVironment Board of Administrators, efficient on the firm’s 2021 annual assembly of shareholders
• Wahid Nawabi, president and chief govt officer, elected Chairman of the AeroVironment Board
AeroVironment, Inc. (NASDAQ: AVAV), a world chief in clever, multi-domain robotic techniques, at present introduced that its Board of Administrators has unanimously elected President and Chief Government Officer Wahid Nawabi to succeed Tim Conver as chairman upon Mr. Conver’s deliberate retirement from the Board of Administrators, efficient on the firm’s 2021 annual assembly of shareholders. Mr. Nawabi joined AeroVironment in 2011 and assumed the position of president and chief govt officer in Could 2016.
Tim Conver has served as a member of the AeroVironment Board of Administrators since 1988 and assumed the position of president in 1991, then chief govt officer in 1992. Mr. Conver was elected chairman of AeroVironment’s Board of Administrators in 2007, upon the retirement of founder Dr. Paul MacCready, Jr. Throughout his tenure, Mr. Conver led AeroVironment’s transformation into a world chief in unmanned plane techniques (UAS), tactical missile techniques (TMS) and high-altitude, pseudo-satellites (HAPS), main the corporate’s preliminary public providing in 2007 and rising annual income from $10 million to $264 million in fiscal yr 2016.
“As a part of our dedication to sturdy company governance, the AeroVironment Board of Administrators maintains an ongoing and deliberate course of for managing succession,” mentioned Arnold Fishman, lead unbiased director. “Tim Conver has served AeroVironment as a visionary chief and a disciplined Chairman of the Board whose contributions have molded the corporate into the acknowledged chief in our business. Wahid’s monitor document of efficient management and demonstrated outcomes as chief govt officer, which embody three consecutive years of worthwhile, double-digit income progress, are basic to the Board’s determination to elect Wahid as the subsequent Chairman. We’re excited to welcome Wahid to this new position as a part of our deliberate succession course of.”
“On behalf of AeroVironment’s Board of Administrators, I thank Tim for his imaginative and prescient, willpower and steering,” mentioned Wahid Nawabi. “Tim helped domesticate a singular firm tradition targeted each on defining the long run in our markets and permitting us to ship uniquely invaluable options that assist our prospects and workers Proceed with Certainty. Tim’s management and mentorship have resulted in numerous American and allied lives saved because of our modern UAS and TMS options.”
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) gives expertise options on the intersection of robotics, sensors, software program analytics and connectivity that ship extra actionable intelligence so you possibly can Proceed with Certainty. Celebrating 50 years of innovation, AeroVironment is a world chief in unmanned plane techniques and tactical missile techniques, and serves protection, authorities and industrial prospects. For extra info, go to www.avinc.com.
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