Musical instruments maker, Steinway Musical Instruments Inc. (LVB) , stated that its president and CEO of their Worldwide division, Thomas Kurrer, will retire by year-end.
Thomas Kurrer has worked for the company for over two decades.
The company stated that current chief executive officer Michael Sweeney will take on the additional role of president.
The regional company heads of Americas, Europe and Asia-Pacific will commence reporting to Sweeney from October.
Kurrer has agreed to consult for Steinway & Sons in 2013, and will currently still remain as a board member.
Shares of Steinway Musical are currently trading at $24.69, down 21 cents or 0.84% on NYSE.
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