Albany International Fires CFO Michael Burke
Albany International, a global advanced textiles and materials processing company, has terminated the employment of Michael Burke, senior vice president (SVP) and chief financial officer (CFO), without cause. 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 has in the meantime appointed John Cozzolino, vice president-corporate treasurer and strategic planning, as acting CFO.