Albany International Announced CFO Search (AIN)

Albany International Corp. AIN announced yesterday that it had terminated the employment of Michael K. Burke, Senior Vice President and Chief Financial Officer, effective immediately, without cause. Mr. Burke will be entitled to certain severance and other amounts under the terms of the severance agreement entered into at the time of his employment in 2009. The Company has retained Korn/Ferry International to assist it in identifying replacement CFO candidates. The Company's Board of Directors has in the meantime appointed John B. Cozzolino, Vice President–Corporate Treasurer and Strategic Planning, as Acting Chief Financial Officer, also effective immediately.