AeroVironment Appoints Teresa Covington as Interim Chief Financial Officer
06 February 2015 - 8:30AM
Business Wire
Jikun Kim Leaving Company to Pursue Other
Opportunities
AeroVironment, Inc. (AV) (NASDAQ:AVAV) today announced
the appointment of Teresa Covington as interim chief financial
officer, effective immediately, until a permanent replacement has
been selected and appointed. Covington succeeds Jikun Kim, who has
resigned as senior vice president and chief financial officer.
“While decisions like this are never easy, I believe now is the
right time,” said Jikun Kim. “Working with the AeroVironment team
has been a tremendous personal and professional experience for me.
Most rewarding has been helping to position the company for
long-term growth. I am confident AeroVironment will achieve
continued success.”
Tim Conver, AeroVironment chairman and chief executive officer,
said, “Jikun Kim has contributed in many ways to AeroVironment’s
progress and we are now stronger, more diversified and better
positioned to achieve our growth potential than when Jikun joined
in 2010. The Board of Directors, our employees and I thank Jikun
for his service and wish him the best in his future endeavors.”
Kim is leaving the company to pursue other business
opportunities. His departure is unrelated to any issues regarding
financial disclosures, accounting or legal matters. AeroVironment
is working with a leading global executive search firm to identify
and evaluate qualified candidates to serve as chief financial
officer.
About Teresa Covington
Since joining AeroVironment in 2011, Teresa Covington has
provided financial leadership for AeroVironment’s EES business
segment and has served as a senior member of the company’s finance
team. 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 $100 million
annual revenue musical instruments company 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 is a technology solutions provider that designs,
develops, produces, supports and operates an advanced portfolio of
Unmanned Aircraft Systems (UAS) and electric transportation
solutions. The company’s electric-powered, hand-launched unmanned
aircraft systems generate and process data to deliver powerful
insight, on-demand, to people engaged in military, public safety
and commercial activities around the world. AeroVironment’s
electric transportation solutions include a comprehensive suite of
electric vehicle (EV) charging systems, installation and network
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.
More information about AeroVironment 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; our reliance on sales to the U.S.
government; changes in the timing and/or amount of government
spending; changes in the supply and/or demand and/or prices for our
products and services; 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, including our
most recent Annual Report on Form 10-K and Quarterly Reports on
10-Q. 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
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