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Russell E. Toney Elected to Albany International Corp. Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
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Tags
management
Rhea-AI Summary
Albany International Corp. (NYSE: AIN) has elected Russell E. Toney to its Board of Directors. Toney, who is 52, has extensive experience in various leadership roles, recently serving as President of the Specialty Business Group at Dover Corporation. His background includes over 13 years at General Electric, focusing on sales and operations, along with a strong engineering foundation from his education in Chemical Engineering and an MBA. Chairman Erland Kailbourne expressed confidence in Toney's ability to contribute significantly to the company's strategic vision and product innovation.
Positive
Russell E. Toney's extensive experience in sales, operations, and engineering will enhance Albany International's Board.
Toney's leadership background is expected to contribute positively to the company's strategic vision and product innovation.
Negative
None.
ROCHESTER, N.H.--(BUSINESS WIRE)--
Albany International Corp. (NYSE:AIN) announced today that Russell E. Toney has been elected to its Board of Directors.
Russell E. Toney (Photo: Business Wire)
Mr. Toney, age 52, has served since 2018 as President, Specialty Business Group at Dover Corporation, a diversified global manufacturing company, responsible for multiple operating companies in Dover’s portfolio of entities producing highly engineered products for the electronics, automotive, industrial automation, defense and communications industry. From 2015 to 2018 he was Dover’s Senior Vice President, Global Sourcing, where he also had responsibility for its Global Innovation center in India. Before joining Dover, Mr. Toney spent 13 years at General Electric Company where he held various sales and leadership positions in its plastics business, as well as supply chain and leadership roles at its energy business. Prior to that, he was a strategy consultant with Boston Consulting Group and worked in engineering and manufacturing roles at Proctor Gamble Company. Mr. Toney holds a B.S. degree in Chemical Engineering from the University of Dayton and an M.B.A. from the Darden Graduate School of Business at the University of Virginia.
Albany International Chairman Erland (Erkie) Kailbourne said, “We are pleased to welcome Russell to our Board of Directors. He is a seasoned business leader who brings significant functional and industry experience. His experience in sales, operations, supply chain, and strategic consulting, as well as his engineering background, will contribute greatly to the Board’s vision and strategy for the Company. He is a leader with significant profit and loss responsibilities, who understands the challenges of bringing highly engineered products to market. He brings significant knowledge and experience to the role which will prove insightful as we continue to innovate and develop new product offerings. Mr. Toney will be a valuable contributor to our Board, and I take great pleasure in welcoming him as a new Director.”
About Albany International Corp.
Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is the world’s leading producer of custom-designed, consumable fabrics and process belts essential for the manufacture of all grades of paper products. Albany Engineered Composites is a growing designer and manufacturer of advanced materials-based engineered components for demanding aerospace applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 facilities in 11 countries, employs approximately 4,100 people worldwide, and is listed on the New York Stock Exchange (Symbol AIN). Additional information about the Company and its products and services can be found at www.albint.com.
Who is Russell E. Toney and what is his background?
Russell E. Toney is newly elected to Albany International's Board of Directors, with a background as President of the Specialty Business Group at Dover Corporation and extensive experience at General Electric.
What impact is Russell Toney expected to have on Albany International?
Toney is expected to provide valuable insights and contribute to the company's strategy, particularly in sales and operations.
When was Russell E. Toney elected to the Albany International Board?
Russell E. Toney was elected to the Board of Directors on the date of the press release, March 21, 2022.
What is Albany International Corp.'s business focus?
Albany International develops and manufactures engineered components, primarily focusing on machine clothing and advanced materials for aerospace applications.
