Kadant CEO succession plan names Michael Colwell as next CEO. Kadant has approved a leadership transition that will make Michael C. Colwell president and CEO on January 2, 2027. Jeffrey L. Powell will move from CEO to executive chairman, while current board chairman Jonathan W. Painter will retire. The plan establishes a staged transition across Kadant's executive and board leadership. Key takeaways. * Michael C. Colwell will become Kadant's president and CEO on January 2, 2027. * Colwell will first become president and chief operating officer on October 1, 2026. * Jeffrey L. Powell will become executive chairman after leaving the CEO role. * Powell will continue supporting strategic planning, acquisitions and operational matters. * Jonathan W. Painter will leave the board and chairmanship on January 2, 2027. Kadant sets staged CEO succession timeline. Kadant's CEO succession plan will move Michael C. Colwell into the company's top executive position on January 2, 2027, following an initial appointment as president and chief operating officer on October 1, 2026. Jeffrey L. Powell will remain president through September 30 and CEO through January 2 before becoming executive chairman. The board approved the succession plan as a structured transition across Kadant's executive leadership. The sequence gives Colwell an initial period as president and chief operating officer before he assumes the president and CEO positions in January. Powell will continue serving as CEO during the first stage of the transition. His CEO tenure will end on January 2, 2027, when Colwell assumes the position. The plan also changes the company's board leadership. Jonathan W. Painter, Kadant's current chairman, will cease serving as a director and chairman on January 2, 2027. The leadership changes therefore involve three senior positions. Colwell will become president and COO in October before taking over as president and CEO. Powell will transition from CEO to executive chairman, while Painter will leave the board and chairmanship. For additional context on structured leadership transitions, planned CEO succession strategies provide a comparable example of a company using a defined timetable for a change at the top. Michael Colwell moves into president and COO role. Colwell will take responsibility as Kadant's president and chief operating officer on October 1, 2026, ahead of his appointment as president and CEO three months later. The staged appointment places Colwell in the president and COO role while Powell remains president and CEO. The arrangement establishes a period in which Colwell moves into broader executive responsibilities before formally becoming CEO. Colwell has held senior leadership positions at Kadant and is responsible for the company's Industrial Processing segment. His current position is senior vice president, a role he has held since December 2024. He previously served as a vice president from August 2022 to December 2024. His responsibilities have included Kadant's Industrial Processing segment and earlier oversight of businesses within that segment. Colwell also previously served as president of Kadant Carmanah Design, a division of Kadant Canada Corp. The executive's experience at the company extends to business leadership and acquisitions. Before joining Kadant Carmanah Design as president, Colwell served as president and chief executive officer of Carmanah Design and Manufacturing Inc. until Kadant acquired the business in November 2013. That background provides the basis for his appointment within the company's succession plan. The board cited Colwell's performance and vision in leading the Industrial Processing segment as factors in its decision. Jeffrey Powell transitions to executive chairman. Powell will become executive chairman after Colwell assumes the CEO position. He is expected to remain involved in strategic planning and acquisition activities as well as provide management with advice on operational matters. The executive chairman role will also include responsibility for corporate governance matters. Powell is expected to remain a director and chairman of the board in a non-executive capacity until January 1, 2028. The succession plan therefore retains Powell's involvement after his departure from the CEO role. His responsibilities will shift from day-to-day executive leadership toward strategic planning, acquisitions, operational consultation and corporate governance. Powell has served Kadant for more than 18 years, according to the company's announcement. During his tenure, he advocated diversification of Kadant's business portfolio and growth through acquisitions. The company's leadership plan specifically provides for Powell to remain involved for one year following the appointment of his successor as CEO. That arrangement establishes an extended period of participation after the formal transfer of the chief executive position. Powell said the plan provides continuity of leadership and maintains a strong team of leaders. He also said he has worked closely with Colwell for many years and supports the board's selection of him as the next CEO. A separate analysis of CEO succession planning practices addresses succession as a structured business process rather than a response to an unexpected leadership vacancy. Colwell brings Kadant operating and acquisition experience. Colwell's career at Kadant includes responsibility for several businesses and operating areas. Before his current role leading the Industrial Processing segment, he had supervisory responsibility for the company's wood processing business. That responsibility lasted from July 2019 to July 2022. The wood processing business is part of Kadant's Industrial Processing segment. Colwell also had responsibility for Kadant's fiber-based products business from July 2019 through November 2021. His previous leadership at Kadant Carmanah Design included responsibility for a business that designs and manufactures equipment for the oriented strand board industry. Kadant acquired Carmanah Design and Manufacturing in November 2013. Colwell had served as its president and chief executive officer from April 2010 until the acquisition. The board specifically cited Colwell's record of acquiring and integrating businesses that contributed to Kadant's growth. Jonathan W. Painter said Colwell is qualified to assume the CEO role and continue driving growth across the company. Colwell said he intends to build on the company's existing momentum while continuing to pursue growth and profitability. His comments place those objectives within the responsibilities of the incoming CEO role. The succession plan thus moves an executive with experience across Kadant's operating businesses into the chief executive position. His progression includes business-unit leadership, segment responsibility, senior vice president duties and the upcoming president and COO appointment. Board leadership changes complete the succession plan. The CEO transition is accompanied by a separate change at the board level. Painter will cease serving as a director and chairman on January 2, 2027, the same date Colwell becomes president and CEO. Painter said the board was impressed by Colwell's performance and vision in leading the Industrial Processing segment. He also cited Colwell's experience acquiring and integrating businesses as part of the board's assessment. Powell will take over the executive chairman position after leaving the CEO role. His responsibilities will include strategic planning, acquisition activities, operational consultation and corporate governance. The company expects Powell to remain a director and chairman of the board in a non-executive role until January 1, 2028. His planned retirement follows the additional year of involvement established under the succession plan. Painter also plans to retire from the board when Colwell becomes CEO. He said his departure follows a career at Kadant and service as chairman of the board for seven years. The resulting structure places Colwell in executive leadership, Powell in an executive chairman role and removes Painter from the board. The changes have defined dates extending from October 2026 through January 2028. Kadant's succession plan also establishes continuity between the outgoing and incoming chief executives. Powell will remain CEO while Colwell begins serving as president and COO, before the formal transfer of the CEO position in January. Frequently asked questions. Who is the next CEO of Kadant? Michael C. Colwell has been selected as Kadant's next president and CEO. He will assume both positions on January 2, 2027. When will Michael Colwell become Kadant CEO? Colwell will become president and CEO on January 2, 2027. He will first become president and chief operating officer on October 1, 2026. Who will succeed Jeffrey Powell as Kadant CEO? Michael C. Colwell will succeed Jeffrey L. Powell as Kadant's president and CEO. Powell will then become executive chairman. What role will Jeffrey Powell have after leaving the CEO position? Powell will serve as executive chairman after Colwell becomes CEO. His responsibilities will include strategic planning, acquisition activities, operational consultation and corporate governance. Who is retiring from Kadant's board? Jonathan W. Painter, Kadant's current chairman, will cease serving as a director and chairman on January 2, 2027. Spread the love

Kadant announces CEO succession plan. September 10, 2026 at 4:38 PM EDT WESTFORD, Mass., Sept. 10, 2026 (GLOBE NEWSWIRE) - Kadant Inc. (NYSE: KAI) today announced that Michael C. Colwell will be appointed president and chief operating officer effective October 1, 2026 and president, chief executive officer and a director effective January 2, 2027, as part of a succession plan adopted by the board of directors. As part of the succession plan, Jeffrey L. Powell will continue to serve as president through September 30, 2026, and chief executive officer through January 2, 2027, at which time he will become executive chairman of the board of directors. Jonathan W. Painter, the Company's current chairman of the board of directors, will cease to serve as a director and the chairman of the board of directors on January 2, 2027. Mr. Colwell has been a senior vice president since December 2024, was a vice president from August 2022 to December 2024, and is responsible for the Company's Industrial Processing segment. Prior to that, he had supervisory responsibility for the Company's wood processing business, which is part of the Industrial Processing segment, from July 2019 to July 2022, and had responsibility for the Company's fiber-based products business from July 2019 to November 2021. Mr. Colwell previously served as the president of Kadant Carmanah Design (Carmanah), a division of the Company's subsidiary Kadant Canada Corp., from 2013 to 2019. Carmanah, which is part of the Company's wood processing business, designs and manufactures equipment for the oriented strand board industry. Mr. Colwell previously served as the president and chief executive officer of Carmanah Design and Manufacturing Inc. from April 2010 until its acquisition by the Company in November 2013. The succession plan is designed to retain the services of Mr. Powell for one year following the appointment of his successor as CEO. In his new position as executive chairman, Mr. Powell will continue to participate in strategic planning and acquisition activities, consult with management on operational matters, and be responsible for corporate governance matters. Mr. Powell is expected to continue as a director and chairman of the board in a non-executive role after his retirement on January 1, 2028. "I am confident the succession plan announced today provides for continuity of leadership and maintains a strong team of leaders who can continue to build on Kadant's successes," said Mr. Powell. "Michael and I have worked closely together the last 13 years, and I believe the board has made an outstanding choice in selecting Michael as our next CEO. I look forward to continuing to work with Michael and the board to support our customers and employees and deliver value for our stockholders." Mr. Colwell commented, "I am honored to be appointed president and chief executive officer of Kadant at such an important time for our Company. Having had the opportunity to work side-by-side with Jeff over many years at Kadant, I have developed a deep appreciation for the unique and leading position Kadant has established around the world. I look forward to building on the momentum Jeff has created while continuing to drive growth and profitability throughout the business to deliver long-term value." Mr. Painter noted, "The board has been impressed not only by Michael's performance and vision leading the Industrial Processing segment, but also by his successful track record of acquiring and integrating new businesses that have contributed to Kadant's growth. Michael is well qualified to step into the role of CEO and to continue to drive growth across Kadant. "On behalf of the entire board, I thank Jeff for more than 18 years of service to Kadant and the significant contributions made during his tenure. Jeff has been a strong advocate of diversifying Kadant's business portfolio and growth through acquisitions, providing stability and positioning the Company for long-term growth. While I am thankful for my long career at Kadant and the opportunity to serve the Company as chairman of the board of directors for the last seven years, I look forward to my retirement from the board and Jeff's continued insights and leadership as executive chairman." Mr. Powell added, "Jon and I have known each other and worked together since the 1980s at Kadant's then parent company, Thermo Electron Corporation. Without his leadership over the years, we would not be the Company we are today. We wish him all the best in his well-deserved retirement." About Kadant Kadant Inc. is a global supplier of technologies and engineered systems that drive Sustainable Industrial Processing(R). The Company's products and services play an integral role in enhancing efficiency, optimizing energy utilization, and maximizing productivity in process industries. Kadant is based in Westford, Massachusetts, with approximately 4,000 employees in 22 countries worldwide. For more information, visit kadant.com. Safe Harbor Statement The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about the Company's succession plan and future prospects. These forward-looking statements represent the Company's expectations as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant's Annual Report on Form 10-K for the year ended January 3, 2026 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues from large capital equipment and systems projects; its acquisition strategy; levels of residential construction activity; reductions by its wood processing customers of their capital spending or production of oriented strand board; changes to the global timber supply; development and use of digital media; cyclical economic conditions affecting the global mining industry; demand for coal, including economic and environmental risks associated with coal; failure of its information systems or breaches of data security and cybersecurity incidents; implementation of its internal growth strategy; competition; its ability to successfully manage its manufacturing operations; supply chain constraints, inflationary pressure, price increases or shortages in raw materials; loss of key personnel and effective succession planning; future restructurings; protection of intellectual property; changes to tax laws and regulations; climate change; adequacy of its insurance coverage; global operations; policies of the Chinese government; the variability and uncertainties in sales of capital equipment in China; currency fluctuations; changes to government regulations and policies around the world; compliance with government regulations and policies and compliance with laws; environmental laws and regulations; environmental, health and safety laws and regulations impacting the mining industry; its debt obligations; restrictions in its credit agreement and note purchase agreement; soundness of financial institutions; fluctuations in its share price; and anti-takeover provisions. Contacts Investor Contact Information: Michael McKenney, 978-776-2000 [email protected] Media Contact Information: Wes Martz, 978-776-2000 [email protected]

Kadant named to Newsweek's list of America's Greatest Companies 2026. MWN-AI** Summary. Kadant Inc. (NYSE: KAI), based in Westford, Massachusetts, has achieved recognition on Newsweek's esteemed list of America's Greatest Companies for 2026. This accolade highlights Kadant's commitment to excellence across key metrics, including financial performance, workplace culture, innovation, and sustainability. Jeffrey L. Powell, the company's president and CEO, expressed pride in receiving this honor, emphasizing that it underscores Kadant's dedication to delivering value to customers, fostering employee growth, and advancing sustainable technologies in industrial processing. The selection process for this prestigious list involved a thorough independent evaluation of 2,800 publicly traded companies in the U.S. These assessments covered ten critical areas, such as financial strength, employee experience, and innovation. This rigorous methodology showcases how Kadant stands out in a competitive landscape, reinforcing its reputation as a leader in the industry. As a global supplier of technologies and engineered systems, Kadant plays a vital role in promoting Sustainable Industrial Processing(R), which enhances efficiency, optimizes energy use, and maximizes productivity in various process industries. With around 4,000 employees operating in 22 countries worldwide, the company is well-positioned to make a significant impact on sustainable practices within the manufacturing sector. The recognition in Newsweek not only highlights Kadant's successes but also provides reassurance to current and potential investors regarding the company's stability and growth prospects. Kadant's commitment to sustainability and innovative solutions continues to attract attention in an increasingly eco-conscious market. For more details on their recognition and methodology, visit Newsweek's rankings page or Kadant's official website. MWN-AI** Analysis. Kadant Inc. (NYSE: KAI) recently received an accolade as one of America's Greatest Companies 2026, emphasizing its exceptional performance in financial strength, workplace culture, innovation, and sustainability. This recognition is significant, reflecting a commitment to value creation for stakeholders and an emphasis on sustainable industrial processes. Investors should view this designation as a bullish signal for Kadant's long-term prospects. Being listed among the top companies highlights not only Kadant's operational excellence but also its competitive position in the growing market for sustainable technologies. As industries worldwide intensify their focus on energy efficiency and environmental stewardship, Kadant's solutions place it at the forefront of this movement. Furthermore, with approximately 4,000 employees across 22 countries, Kadant's global reach enhances its ability to cater to diverse markets and mitigate risks associated with domestic downturns. The company's emphasis on innovation is a cornerstone of its strategy, ensuring that it remains relevant in a rapidly evolving technological landscape. While the designation serves as a compelling endorsement, potential investors should exercise caution and conduct thorough due diligence. Forward-looking statements, as mentioned in the company's safe harbor statement, underscore inherent risks related to market dynamics, competition, and operational challenges. Tracking Kadant's financial health through its quarterly earnings reports will provide essential insights into its ongoing performance and ability to fulfill growth projections. In conclusion, Kadant's recent recognition presents an attractive opportunity for investment, particularly for those focused on sustainable enterprises. However, potential investors should remain vigilant regarding market fluctuations and operational risks that could impact future performance. Overall, Kadant appears well-positioned to leverage this award into sustained growth and shareholder value creation. **MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release. September 08, 2026 12:43:31 pm WESTFORD, Mass., Sept. 08, 2026 (GLOBE NEWSWIRE) - Kadant Inc. (NYSE: KAI) has been named to Newsweek's list of America's Greatest Companies 2026, recognizing organizations that excel in financial performance, workplace culture, innovation, and sustainability. "It is an honor to be named as one of America's Greatest Companies," said Jeffrey L. Powell, president and chief executive officer of Kadant. "This designation reflects our focus on delivering value to our customers, creating opportunities for our employees, and advancing technologies that support sustainable industrial processing." The award was presented by Newsweek and Plant-A Insights Group following an independent review of 2,800 publicly traded U.S. companies assessed across 10 key areas including financial strength, employee experience, innovation, and sustainability. For methodology and more information, visit https://rankings.newsweek.com/americas-greatest-companies-2026. About Kadant Kadant is a global supplier of technologies and engineered systems that drive Sustainable Industrial Processing(R). The Company's products and services play an integral role in enhancing efficiency, optimizing energy utilization, and maximizing productivity in process industries. Kadant is based in Westford, Massachusetts, with approximately 4,000 employees in 22 countries worldwide. For more information, visit kadant.com. Safe Harbor Statement The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our customers, products, operations, and markets. These forward-looking statements represent our expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant's annual report on Form 10-K for the fiscal year ended January 3, 2026 and subsequent filings with the Securities and Exchange Commission. Contacts Investor Contact Information: Michael McKenney, 978-776-2000 [email protected] Media Contact Information: Wes Martz, 978-776-2000 [email protected] FAQ**. How does Kadant Inc KAI plan to sustain its recognition as one of America's Greatest Companies while continuing to innovate in sustainable industrial processing? Kadant Inc. (KAI) aims to sustain its recognition by investing in cutting-edge technologies, enhancing operational efficiency, and focusing on sustainable practices to drive innovation in industrial processing solutions. What specific financial performance metrics contributed to Kadant Inc KAI's designation in Newsweek's list, and how do these compare to industry benchmarks? Kadant Inc (KAI) achieved competitive financial performance metrics, including strong revenue growth and robust profit margins, surpassing industry benchmarks in operational efficiency and return on investment, which contributed to its designation in Newsweek's list. Can you elaborate on the employee experience initiatives that have positively impacted Kadant Inc KAI's workplace culture, leading to this prestigious recognition? Kadant Inc.'s employee experience initiatives, including flexible work options, enhanced career development programs, and a strong focus on diversity and inclusion, have significantly fostered a positive workplace culture, contributing to their recent prestigious recognition. What new technologies or products is Kadant Inc KAI developing to further enhance its market position in sustainable industrial processing in the coming years? As of now, Kadant Inc. is focused on developing advanced automation solutions, enhanced fiber processing technologies, and innovative material recovery systems to strengthen its market position in sustainable industrial processing. **MWN-AI FAQ is based on asking OpenAI questions about Kadant Inc (NYSE: KAI).