Albany International Announces New CFO

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 &

Mr. Nolan (age 49) began his career in engineering, designing freeway
traffic management systems. He has a bachelora??s degree in engineering
from Trinity College, the University of Dublin, a mastera??s degree in
civil engineering from the University of Massachusetts Amherst, and an
MBA from the Massachusetts Institute of Technology.

Olivier Jarrault, Albanya??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
Albanya??s objectives.
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