2023-03-13 17:43:55 ET
- Albany International ( NYSE: AIN ) on Monday said its president and CEO Bill Higgins had decided to step down.
- AIN's board has retained executive search firm Spencer Stuart to begin a search for Higgins' successor.
- Higgins will continue in his role as CEO until his successor is in place.
- "Albany’s Board, working closely with Bill, has been formulating a CEO succession plan and is confident of a successful and smooth transition for all our stakeholders," AIN chairman Erkie Kailbourne said in a statement .
- AIN stock earlier closed -3.3% at $89.87.
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Albany International says CEO Bill Higgins to retire