Albany International, a global advanced textiles and materials processing company, has terminated the employment of Michael Burke, senior vice president (SVP) and chief financial officer (CFO), without cause. Burke will be entitled to certain severance and other amounts under the terms of the severance agreement entered into at the time of his employment in 2009.
The company has retained Korn/Ferry International to assist it in identifying replacement CFO candidates. The company has in the meantime appointed John Cozzolino, vice president-corporate treasurer and strategic planning, as acting CFO.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.