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news release:
Executive Vice President and COO at EADS North
America Brings Wealth of Department of Defense and Business Experience to AMSC
Westborough, MA, September 21: 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."
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