Kadant Inc. announced a structured leadership succession plan on September 10 under which 13-year company veteran Michael C. Colwell will become President and Chief Operating Officer on October 1, then succeed long-time chief executive Jeffrey L. Powell as Chief Executive Officer on January 2, 2027. Powell, who has led Kadant for over 18 years, will continue as President through September 30 and as CEO through January 2, 2027, after which he will serve as Executive Chairman through January 1, 2028, while Chairman Jonathan W. Painter steps down from the board effective January 2, 2027. Colwell has served as Senior Vice President of the Industrial Processing segment since December 2024, overseeing global operations in wood processing and fiber processing equipment, and joined the company when Kadant acquired Kadant Carmanah Design in November 2013, an entity he had led as President since 2010. The transition comes as Kadant's Q2 2026 results showed total revenue rising 23% year-over-year to a record $313 million, with organic revenue up 8%, total bookings up 16% to $312 million, organic bookings down 1%, and gross margin contracting 210 basis points to 43.8%. Short interest stands at 13.33% of total float, and the stock traded at a forward price-to-earnings ratio of 20.16x as of September 24.
Kadant IncKadant announced a CEO succession plan (Colwell succeeding Powell in 2027); leadership transition is neutral/uncertain for the company.
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