- Wahid Nawabi, less than 9 months removed from being named AeroVironment's (NASDAQ:AVAV) COO, will now also serve as the UAV maker's President. Tim Conver remains chairman/CEO.
- Conver: "Wahid's effective leadership as chief operating officer has contributed to significant improvements in our focus and operational effectiveness. Wahid will continue to focus on executing our operating plan while taking on a larger role in our strategic planning process to drive continued value creation."
- The move comes five weeks after AeroVironment delivered a big FQ2 beat. The EPS portion of the beat was fueled in part by spending controls and major gross margin improvement.