Kadant Inc. (KAI), a global provider of industrial processing technology, has announced a board-approved succession plan to transition its leadership. Michael C. Colwell will be appointed President and Chief Operating Officer, effective October 1, 2026, and will subsequently assume the role of President, Chief Executive Officer, and Director, effective January 2, 2027.
As part of the planned transition, Jeffrey L. Powell will continue to serve as President through September 30, 2026, and as Chief Executive Officer through January 2, 2027. Following the leadership transition, Powell will become Executive Chairman of the Board of Directors. Jonathan W. Painter, the current Chairman of the Board, will step down as a director and as Chairman on January 2, 2027.
Kadant noted that Colwell has served as Senior Vice President since December 2024, following his tenure as Vice President from August 2022 to December 2024. In his current role, he is responsible for the company’s Industrial Processing segment. Previously, from July 2019 to July 2022, he held supervisory responsibility for Kadant’s wood processing business.
On the NYSE, Kadant’s shares (KAI) ended Thursday’s trading session at $286.23, down $5.02 or 1.7%. In after-hours trading, the stock declined further by 1.5% to $282.09.
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