ROCHESTER, N.H.--(BUSINESS WIRE)--Mar. 29, 2019--
Albany International Corp. (NYSE:AIN) announced today that its Board of
Directors has appointed Stephen M. Nolan as Chief Financial Officer and
Treasurer to succeed John Cozzolino, effective April 1, 2019.
Mr. Nolan has over 16 years of experience in operational and strategic
finance, most recently serving as CFO for Esterline, where he co-led the
recently completed sale of Esterline to TransDigm Group Incorporated.
Mr. Nolan had served as CFO of Esterline since February 2018. Prior to
this role, he was the Chief Financial Officer for Vista Outdoor, Inc., a
publicly traded manufacturer of outdoor sports and recreation products,
and worked on the formation and spin-off of Vista Outdoor from its
aerospace and defense parent company Alliant Techsystems (ATK) in 2015,
as well as the related merger between ATK and Orbital Sciences to create
Orbital ATK. Prior to that time, Mr. Nolan worked in a number of
strategic and operational management roles within ATK, including Senior
Vice President for Strategy and Business Development and several
business unit leadership positions. Earlier in his career, Mr. Nolan
served for five years in corporate development and strategy roles at
Raytheon Company and five years as a strategy consultant at McKinsey &
Company.
Mr. Nolan (age 49) began his career in engineering, designing freeway
traffic management systems. He has a bachelor’s degree in engineering
from Trinity College, the University of Dublin, a master’s degree in
civil engineering from the University of Massachusetts Amherst, and an
MBA from the Massachusetts Institute of Technology.
Olivier Jarrault, Albany’s President and CEO, said, "I am very pleased
to welcome Stephen Nolan as our new CFO and Treasurer. Stephen brings
extensive experience within the aerospace and defense sector, and an
impressive track record of strategic execution - most recently with the
successful sale of Esterline to TransDigm - as well as a history of
success serving in senior financial and business management roles in a
number of global manufacturing environments. I am confident that his
expertise in financial and strategic planning, combined with his
results-oriented business leadership skills, will be of significant
value to me and the senior management team as we all strive to achieve
Albany’s objectives.
“As a valued member of the Company’s senior management team for many
years, and CFO and Treasurer since 2011, John Cozzolino has played a
critical leadership role in managing the Company’s capital structure and
access to capital, overseeing investor and analyst communications, and
negotiating and facilitating the transformative strategic transactions
that helped bring Albany to where it is today. On behalf of the Company
and the Board, I thank him for his significant contributions and wish
him all future success in his post-Albany career.”
Mr. Nolan said, "I am privileged to have the opportunity to join Albany
as CFO and Treasurer. I look forward to reaching out to our investors,
analysts and banking partners, my new co-workers, the entire Albany
organization, and the Board over the coming days to introduce myself and
establish a relationship with each of you. I am pleased to be able to
join with Olivier and the other members of his management team to
continue, and to further expand, the efforts already underway to deliver
greater value to our customers and increased returns to our
shareholders."
About Albany International Corp.
Albany International is a
global advanced textiles and materials processing company, with two core
businesses. Machine Clothing is the world’s leading producer of
custom-designed fabrics and belts essential to production in the paper,
nonwovens, and other process industries. Albany Engineered Composites is
a rapidly growing supplier of highly engineered composite parts for the
aerospace industry. Albany International is headquartered in Rochester,
New Hampshire, operates 22 plants in 10 countries, employs 4,400 people
worldwide, and is listed on the New York Stock Exchange (Symbol AIN).
Additional information about the Company and its products and services
can be found at www.albint.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190329005525/en/
Source: Albany International Corp.
Heather Kralik
801-505-7001
Heather.Kralik@albint.com
Stephen Nolan (effective April 1)
603-330-5899
Stephen.Nolan@albint.com