BUFFALO, N.Y.- The president of New Era Cap Company has left his position, the company announced Monday night.
Pete Augustine, who had been with New Era for nearly 25 years, is leaving the company on mutual agreement with CEO Chris Koch.
Augustine joined New Era in 1990 as the company's first accountant. He has since filled several roles, including CFO.
"Pete has been instrumental in my company's growth and has contributed to our numerous business deals, partnerships, and acquisitions during his tenure that generated great value to the company. I want to personally thank Pete for his significant contributions and I wish him all the best," Koch said in a statement.
The company says they will not conduct a search to replace Augustine, and that Koch will take over the role of president in addition to his duties as CEO.
