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Azure Dynamics Gets New Board Member: The Oak Park hybrid and electric truck powertrain developer Azure Dynamics Corp. (OTC:AZDDF) Friday announced the appointment of John Formisano to its board of directors, subject to normal regulatory approvals and procedures. Formisano recently retired from Federal Express Corp., where he served as vice president of global vehicles. In that role, Formisano managed an annual budget of $350 million and was responsible for the global selection, sourcing and maintenance of 96,000 vehicles and ground support equipment units. Since joining FedEx in 1983 as a project engineer, Formisano held several operations management positions and. In addition to managing the company’s 96,000 vehicles and ground support equipment units, Formisano spearheaded FedEx integration of fuel-efficient vehicle models. Since 2003, the company’s hybrid and electric truck fleet around the globe has covered more than five million miles of revenue service. During his tenure, FedEx Express Global Vehicles saved over 33 million gallons of fuel, keeping over 700 million pounds of CO2 out of the air. Formisano serves as chairman of the board of directors for CALSTART, a member-supported organization dedicated to the growth of a clean transportation industry, and is vice-chairman of the board of directors of Safe Kids Worldwide, a global network of organizations with a mission to prevent unintentional childhood injury. Formisano holds an MBA in quantitative analysis from Fairleigh Dickinson University and a bachelor’s degree from Montclair State College. More at www.azuredynamics.com.
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