AEC President Gregory Harwell departs; severance of 2x salary plus bonus disclosed

ALBANY INTERNATIONAL CORP /DE/

Harwell to receive 2x base salary over 24 months and $392,843 target bonus.
50% of unvested RSUs and 50% of 2023 special incentive award will accelerate.
Christopher E. Stone appointed as AEC President, effective August 12, 2024.
Separation contingent on general release of claims and restrictive covenants.

item 5.02

Executive movements

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Departed

Gregory Harwell

President of the Albany Engineered Composites business segment

AIN · ALBANY INTERNATIONAL CORP /DE/

Successor: Christopher E. Stone
Filed: August 12, 2024, 7:59 PM ET

On August 7, 2024, Albany International Corp. (“the Company”) entered into Mutual Separation Agreement and General Release with Gregory Harwell, the former President of the Company’s Albany Engineered Composites (“AEC”) business segment.

Appointed

Christopher E. Stone

President of the Company’s AEC business segment

AIN · ALBANY INTERNATIONAL CORP /DE/

Effective: 2024-08-12
Filed: August 12, 2024, 7:59 PM ET

As previously disclosed, Christopher E. Stone has been appointed President of the Company’s AEC business segment, and elected an officer of the Company, effective August 12, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.85

Gregory Harwell departed as President of the Albany Engineered Composites business segment at ALBANY INTERNATIONAL CORP /DE/.

Action: departed
Role: President of the Albany Engineered Composites business segment

Exact text from the filing

On August 7, 2024, Albany International Corp. (“the Company”) entered into Mutual Separation Agreement and General Release with Gregory Harwell, the former President of the Company’s Albany Engineered Composites (“AEC”) business segment.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Christopher E. Stone was appointed as President of the Company’s AEC business segment at ALBANY INTERNATIONAL CORP /DE/.

Action: appointed
Role: President of the Company’s AEC business segment

Exact text from the filing

As previously disclosed, Christopher E. Stone has been appointed President of the Company’s AEC business segment, and elected an officer of the Company, effective August 12, 2024.

View on SEC.gov

ALBANY INTERNATIONAL CORP /DE/ filing history →

Source: SEC EDGAR

accession 0000819793-24-000054

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