He was the great-grandson of the company founder Henry E. Steinway and started at the firm in 1937 after graduating from Harvard University.

[2] The 2007 National Medal of Arts was awarded to Henry Z. Steinway and presented by US President George W. Bush on 15 November 2007 in an East Room ceremony at the White House.

Henry Z. Steinway received the award for "his devotion to preserving and promoting quality craftsmanship and performance; as an arts patron and advocate for music and music education; and for continuing the fine tradition of the Steinway piano as an international symbol of American ingenuity and cultural excellence.

In celebration of his 91st birthday and honoring a lifetime of service to the company, Steinway & Sons introduced a series of Henry Z. Steinway Limited Edition pianos in ebony or East Indian rosewood with distinctive music stands bearing cutwork of the initials HZS.

A small cast bronze ovoid plaque inside each such piano bears relief sculpture portraits of the Steinway family company presidents, along with a space for the serial number to be stamped.