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Azure Dynamics Announces the Appointment of Scott Harrison as Chief Executive Officer


April 2007
 Filed under: CORPORATE Car News | CORPORATE Headlines
TORONTO, April 17 /PRNewswire-FirstCall/ -- Azure Dynamics Corporation (TSX: AZD & LSE: ADC) ("Azure" or the "Company") announces the retirement of Thomas N. Davidson as Chairman of the Board and the appointment of Mr. Scott T. Harrison, P. Eng, as Chief Executive Officer, effective April 16, 2007. D. Campbell Deacon becomes Chairman of the Board, also effective April 16, 2007.

In announcing the appointment of Mr. Harrison as his successor, Mr. Deacon emphasised, "The Board and Executive Management of Azure Dynamics are determined to ensure the Company has the appropriate skills to successfully manage the transition from development stage to commercial production. Scott Harrison has extensive production and supply chain experience with both new and established products and he represents an ideal fit to advance our product commercialization. What is critical to our Company today is the ability to deliver the best quality product at economic prices. We believe Scott has the skills required to ensure Azure achieves all of its goals and realizes its significant potential."
Mr. Harrison stated, "I am very pleased to be joining the Azure Dynamics organization and to bring to it my years of experience in the automotive supply sector. It is now clear the world will be spending billions of dollars over the next decade on environmental solutions to global warming. It is very exciting to lead a company that, through its innovative hybrid technology, is well positioned to be part of the solution for the future."

Deacon went on to express his and the Board's gratitude to retiring Chairman Tom Davidson who provided valuable guidance for almost three and a half years as Azure concluded supply agreements, developed its customer base and raised the funds required to achieve commercialization.

About Scott Harrison

Scott Harrison comes to Azure Dynamics from Hayes Lemmerz, a two billion US dollar per annum Tier 1 auto supplier, where he was Group President responsible for two global businesses. Scott began his automotive career with General Motors where he spent seven years in various positions of increasing responsibility at the Delco Chassis Division. During this time he participated in GM's Supervisor Exchange Program with Toyota Motor Corporation.

Before joining Hayes Lemmerz in 2001 from Fisher Scientific Inc., where Scott was Vice President and General Manager of the Lab Equipment Group, he spent several years at Arvin Industries and at Allied Signal. At Allied Signal, Scott directed the Six Sigma program in the Filters and Spark Plugs SBU and was later responsible for global spark plug (Autolite) manufacturing. He was also trained in Allied Signal's venerable strategic planning process.

Scott's General Management experience is in successfully introducing innovative products, expanding markets, and landing new customers. With 17 years of direct experience in the automotive industry, Azure considers that Scott has a strong record of sales growth, lean implementation, new product introduction, and team building. In addition, his background in operations and supply chain give him unique qualifications to lead Azure Dynamics.

He holds a Bachelor of Science degree in Electrical Engineering from Ohio State University and a Master of Science degree in Electrical Engineering from the University of Dayton, Ohio.

About Azure Dynamics

Azure Dynamics Corporation (TSX: AZD) is a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles. Azure is strategically targeting the commercial delivery vehicle and shuttle bus markets and is currently working internationally with various partners and customers. The Company is committed to providing customers and partners with innovative, cost-efficient, and environmentally-friendly energy management solutions. Azure Dynamics' operations are based in North America and Europe.

For more information please visit www.azuredynamics.com

The TSX and LSE Exchanges do not accept responsibility for the adequacy or accuracy of this release.

Forward-looking Statements

This press release contains forward-looking statements. More particularly, this press release contains statements concerning Azure's business development strategy, projected commercial revenues and product deliveries.

The forward-looking statements are based on certain key expectations and assumptions made by Azure, including expectations and assumptions concerning achievement of current timetables for development programs, target market acceptance of Azure's products, current and new product performance, availability and cost of labour and expertise, and evolving markets for power for transportation vehicles. Although Azure believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Azure can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with Azure's early stage of development, lack of product revenues and history of losses, requirements for additional financing, uncertainty as to commercial viability, uncertainty as to product development and commercialization milestones being met, uncertainty as to the market for Azure's products and unproven acceptance of Azure's technology, competition for capital, product market and personnel, uncertainty as to target markets, dependence upon third parties, changes in environmental laws or policies, uncertainty as to patent and proprietary rights, availability of management and key personnel, and acquisition integration risk.

These risks are set out in more detail in Azure's annual information form which can be accessed at www.sedar.com

The forward-looking statements contained in this press release are made as of the date hereof and Azure undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Source: Azure Dynamics Corporation

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