Albany International Announces New CEO

ROCHESTER, N.H.–(BUSINESS WIRE)–Albany International Corp. (NYSE:AIN) announced today its Board of
Directors has appointed Olivier Jarrault as President, Chief Executive
Officer and a member of the Board to succeed Joseph G. Morone, effective
March 2.

Mr. Jarrault, 56, is a 14-year veteran of Alcoa, where his career
culminated in his appointment in 2011 as Executive Vice President and
Group President of Alcoa Engineered Products and Solutions (“EPS”),
leading a portfolio of global advanced-technology components
manufacturing businesses serving a number of markets, including
aerospace, industrial gas turbines, commercial transportation, and
building and construction. At the helm of EPS until 2016, Jarrault
drove, through a combination of organic growth and several acquisitions
of high performance materials companies, the transformation of the EPS
value-add portfolio into a global multi-material aerospace product and
solutions leader. Under Jarrault’s leadership, focused on growth,
disciplined execution and operational excellence, all of Alcoa’s
downstream businesses successfully increased their financial
performance. EPS aerospace customers include Safran, GE, United
Technologies, Boeing and Airbus. In his role as EVP and Group President
of EPS, Mr. Jarrault had extensive interactions with Alcoa’s investors
and Board of Directors.

Mr. Jarrault brings 26 years of aerospace and industrial experience to
Albany. Prior to being named Group President of EPS, he served in a
number of senior management positions at Alcoa – including as Chief
Operating Officer of EPS in 2010 and President of Alcoa Fastening
Systems from 2003 to 2009 – as well as at Fairchild Fasteners and LISI
Aerospace. Born in Lille, France, Mr. Jarrault earned an MS in
mechanical engineering from the California Institute of Technology and
an MBA from UCLA, and is a dual citizen of the U.S. and France.

Erkie Kailbourne, Chairman of Albany’s Board of Directors, said, "The
Board of Directors is very pleased to welcome Olivier Jarrault as our
next President and CEO. Olivier’s experience leading a portfolio of
manufacturing businesses across a broad market spectrum – including
aerospace, industrial gas turbines, commercial transportation and
construction – and his demonstrated talent for organizational
leadership, make us confident of his ability to lead Albany’s Machine
Clothing and AEC businesses. And given his particular experience in
aerospace – addressing the same markets and working with the same
customers as Albany’s AEC business segment – combined with his proven
track record of leading a global Tier 1 aerospace supplier through a
period of significant growth, both organically and through acquisition,
he is the ideal person to build upon what Joe Morone has already
accomplished, and lead AEC through its next stages of growth and
maturity.”

Dr. Joseph G. Morone, Albany’s outgoing President and CEO, added, "In a
very short time, I have developed a deep respect for Olivier. He is a
strategist, but also hands-on. He is a technology-driven,
growth-oriented builder of businesses, but also pays strict attention to
financial discipline. He has extensive experience with boards and
investors, but stays close to operations, and has extensive experience
negotiating long-term, high-value agreements with aerospace customers.
In my opinion, he is superbly qualified to lead Albany. I have no doubt
that building on Albany’s strengths in both businesses, he’ll take the
Company to an entirely new level of capability and performance."

Mr. Jarrault said, "I am privileged to have the opportunity to lead
Albany – a company with such a proud and compelling history, with
significant strengths and exceptional growth potential. I am excited to
engage with the customers, the entire Albany organization and the Board,
to continue and further expand the efforts already underway to provide
greater value to our customers, and to deliver increased returns for our
shareholders."

About Albany International Corp.

Albany International is a global advanced textiles and materials
processing company, with two core businesses. Machine Clothing is the
world’s leading producer of custom-designed fabrics and belts essential
to production in the paper, nonwovens, and other process industries.
Albany Engineered Composites is a rapidly growing supplier of highly
engineered composite parts for the aerospace industry. Albany
International is headquartered in Rochester, New Hampshire, operates 22
plants in 10 countries, employs 4,400 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.

Contacts

Albany International Corp.
Investors
John Cozzolino,
518-445-2281
john.cozzolino@albint.com
or
Media
Heather
Kralik, 801-505-7001
heather.kralik@albint.com