It Appears That Albany International Fired Their CFO Because They Felt Like It
Michael Burke need not worry. David Paterson will be unemployed soon enough.
Albany International (NYSE: AIN) announced on Sept. 23 that it terminated CFO Michael Burke without cause. Burke was also senior vice president at the manufacturing company headquartered in Menands, New York.
Albany International’s board of directors tapped John Cozzolino to serve as acting CFO. Cozzolino is a vice president overseeing strategic planning.
The moves are effective immediately. Albany International would not say why Burke was fired.
“There were absolutely no ethical, legal, accounting or personal issues involved,” said Susan Siegel, a company spokeswoman.
Just a board of directors channeling a little bit of Steinbrenner.
Albany Int’l Corp. CFO terminated [The Business Review]