Kadant names Michael Colwell as next CEO in planned transition

Kadant Inc. (NYSE: KAI) announced a CEO succession plan in which Michael C. Colwell will assume leadership of the Westford, Massachusetts-based industrial technology company in a phased transition beginning October 1, 2026.

According to a press release, Colwell will be appointed president and chief operating officer on October 1, 2026, before becoming president, chief executive officer, and a board director on January 2, 2027.

Current CEO Jeffrey L. Powell will remain in his role through January 2, 2027, at which point he will transition to executive chairman of the board. Powell is expected to retire on January 1, 2028, after which he is anticipated to continue as a non-executive director and chairman.

Jonathan W. Painter, the company's current board chairman, will step down as a director and chairman on January 2, 2027.

Colwell has served as a senior vice president at Kadant since December 2024, overseeing the company's Industrial Processing segment. He previously held the role of vice president from August 2022 to December 2024. Before that, he led the company's wood processing and fiber-based products businesses. Colwell served as president of Kadant Carmanah Design from 2013 to 2019, following the acquisition of Carmanah Design and Manufacturing Inc., where he had served as president and CEO since April 2010.

"I am honored to be appointed president and chief executive officer of Kadant at such an important time for our Company," Colwell said in the statement.

Powell noted that he and Colwell have worked together for 13 years and expressed confidence in the board's selection. "I am confident the succession plan announced today provides for continuity of leadership," Powell said.

Kadant employs approximately 4,000 people across 22 countries and supplies technologies and engineered systems to process industries.

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