|Executive Vice President and COO at EADS North America Brings Wealth of Department of Defense and Business Experience to AMSC|
American Superconductor Corporation (NASDAQ: AMSC), a leading energy technologies company, today announced that David R. Oliver, Jr. (Rear Admiral, U.S. Navy, Ret.) has been appointed to the company's Board of Directors. Oliver's addition expands the Board to eight members, seven of which are independent.
Oliver, 65, is executive vice president and chief operating officer of European Aeronautic Defense and Space (EADS) Company's North American division. With more than $40 billion in annual revenue, EADS is the second largest aerospace firm in the world. Oliver oversees all marketing and business development activities of EADS North America and manages the operational activities of the EADS North America holding company.
"Dave Oliver brings to our Board a unique blend of corporate and Department of Defense experience," said American Superconductor President, Chief Executive Officer and Chairman Greg Yurek. "He has been a driving force in the expansion of several world-renowned businesses. In addition, his years of government experience both domestically and abroad will be of great value as American Superconductor continues to develop business in those markets."
Before joining EADS North America, Oliver was stationed in Baghdad as Director of Management and Budget for the Coalition Forces. Prior to that, he served as the United States' Principal Deputy Under Secretary of Defense for Acquisition and Technology. Oliver also previously held management positions at both Westinghouse Electric and Northrop Grumman.
In the Navy, Admiral Oliver commanded both diesel and nuclear submarines and two submarine groups. His last Navy appointment was as Principal Deputy to the Assistant Secretary of the Navy for Research, Development and Acquisition. Oliver's military decorations include the Defense and Navy Distinguished Service Medals as well as six awards of the Legion of Merit. Oliver graduated from the United States Naval Academy. He received a Master of Arts in Political Science and International Affairs (Middle East) from American University.
"American Superconductor has leading-edge products that are changing the way electric energy is generated, distributed and utilized - from power grids to wind farms to naval ships," Oliver stated. "I am delighted to be joining the Board and look forward to lending my support as the company rapidly grows its power electronics business and transitions to full-scale commercialization of its high temperature superconductor products."
About American Superconductor Corporation (NASDAQ: AMSC)
AMSC is the world's principal vendor of high temperature superconductor (HTS) wire and large rotating superconductor machinery, and it is a world-leading supplier of dynamic reactive power grid stabilization products. AMSC's HTS wire and power electronic converters are at the core of a broad range of new electricity transmission and distribution, transportation, medical and industrial processing applications, including dynamic reactive power grid stabilization solutions, large ship propulsion motors and generators, smart, controllable, superconductor power cables and advanced defense systems. The company's products are supported by hundreds of patents and licenses covering technologies fundamental to Revolutionizing the Way the World Uses Electricity(TM). More information is available at www.amsuper.com.
AMSC is a trademark of and American Superconductor and design, and Revolutionizing the Way the World Uses Electricity are registered trademarks of American Superconductor Corporation. All other trademarks are the property of their respective owners.