By Colin Kellaher
Albany International has named Gunnar Kleveland to succeed Bill Higgins as president and chief executive of the maker of engineered components, effective Sept. 1.
The Rochester, N.H., company on Monday said Kleveland, 54 years old, most recently served as president and CEO of Textron’s specialized vehicles business.
Albany said Kleveland, who is also joining its board, will receive an annual base salary of $900,000 and an annual bonus with a target of 100% of his base pay.
The company said Higgins, who earlier this year announced plans to retire, will remain a member of the board.
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