Albany International appoints Gunnar Kleveland as President and CEO, succeeding William Higgins

ALBANY INTERNATIONAL CORP /DE/

William Higgins retires as President and CEO effective Sept 1, 2023; remains on Board.
Gunnar Kleveland appointed President and CEO and elected to Board effective same date.
Kleveland's agreement: $900,000 base salary, target cash bonus 100%, sign-on RSUs $1.9 million.
Gregory Harwell granted $1.5M performance share retention award; vests based on employment and performance.
Kleveland was previously President and CEO of Textron Specialized Vehicles, with aerospace experience.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

A. William Higgins

President and Chief Executive Officer

AIN · ALBANY INTERNATIONAL CORP /DE/

Effective: 2023-09-01
Successor: Gunnar Kleveland
Filed: August 21, 2023, 7:59 PM ET

A. William Higgins, its President and Chief Executive Officer, will retire as an officer of the Company on September 1, 2023.

Appointed

Gunnar Kleveland

Director

AIN · ALBANY INTERNATIONAL CORP /DE/

Effective: 2023-09-01
Filed: August 21, 2023, 7:59 PM ET

and elected Mr. Kleveland to serve as a member of the Board effective that same date.

Appointed

Gunnar Kleveland

President and Chief Executive Officer

AIN · ALBANY INTERNATIONAL CORP /DE/

Effective: 2023-09-01
Filed: August 21, 2023, 7:59 PM ET

The Board has appointed Gunnar Kleveland to succeed Mr. Higgins as President and Chief Executive Officer of the Company effective September 1, 2023, and elected Mr. Kleveland to serve as a member of the Board effective that same date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

A. William Higgins retired as President and Chief Executive Officer at ALBANY INTERNATIONAL CORP /DE/.

Action: retired
Role: President and Chief Executive Officer

Exact text from the filing

A. William Higgins, its President and Chief Executive Officer, will retire as an officer of the Company on September 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gunnar Kleveland was elected as Director at ALBANY INTERNATIONAL CORP /DE/.

Action: elected
Role: Director

Exact text from the filing

and elected Mr. Kleveland to serve as a member of the Board effective that same date.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gunnar Kleveland was appointed as President and Chief Executive Officer at ALBANY INTERNATIONAL CORP /DE/.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

The Board has appointed Gunnar Kleveland to succeed Mr. Higgins as President and Chief Executive Officer of the Company effective September 1, 2023, and elected Mr. Kleveland to serve as a member of the Board effective that same date.

View on SEC.gov

ALBANY INTERNATIONAL CORP /DE/ filing history →

Source: SEC EDGAR

accession 0000819793-23-000078

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