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Stephen F. Page Appointed to AeroVironment Board of Directors

  Stephen F. Page Appointed to AeroVironment Board of Directors

  *Experienced director with consumer, industrial and finance background
  *Seasoned executive with deep management, functional and operational
    experience

Business Wire

MONROVIA, Calif. -- April 26, 2013

AeroVironment, Inc. (NASDAQ:AVAV) today announced that Stephen F. Page has
been appointed to its board of directors, effective April 24, 2013. Page was
also appointed to the board’s Audit Committee.

Page most recently served on the corporate boards and audit committees of
Lowe’s Companies, Inc., PACCAR, Inc., and Liberty Mutual Holding Company Inc.,
where he was lead director, and on the board of trustees at Loyola Marymount
University. He chaired the audit committees at PACCAR and Lowe’s. Page
currently serves as a trustee of Mount St. Mary’s College and the Catholic
Education Foundation.

After receiving his bachelor’s degree in Business Administration from Loyola
Marymount University in 1962, Page began his career as an accountant at
Deloitte & Touche LLP and then earned his Juris Doctor degree at Loyola Law
School in 1968. He spent the next 20 years with Black & Decker, first as
general counsel for its McCullough Corporation subsidiary, then as treasurer,
and finally as executive vice president and chief financial officer, at the
company’s corporate headquarters in Towson, Md. Following Black & Decker, Page
served in many leadership roles at United Technologies Corporation, including
director, vice chairman, chief financial officer and president and chief
executive officer of Otis Elevator, an $8 billion division of the company,
before retiring in 2004.

“Stephen’s wealth of leadership success in consumer, industrial, and global
businesses will provide a unique and valuable perspective across
AeroVironment’s increasingly diverse business activities,” said Tim Conver,
AeroVironment’s chairman and chief executive officer. “As a technology company
that creates and sells products and services to consumers, businesses and
government agencies with increasingly international scope, Stephen’s vast
expertise across these areas will be invaluable as AeroVironment expands in
each of these markets.”

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. 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 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; 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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Contact:

AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
pr@avinc.com
or
For AeroVironment, Inc.
Mark Boyer
+1 (310) 229-5956
mark@boyersyndicate.com
 
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