Kadant, the Westford, Massachusetts based industrial technology company listed on the New York Stock Exchange, has set out a chief executive succession plan that will see Michael Colwell take over as its next leader. The company announced the plan on 10 September 2026.
Under the arrangement, Colwell will become president and chief operating officer on 1 October 2026 and will then become president, chief executive officer and a director on 2 January 2027. Jeffrey Powell, the current chief executive, will remain president until the end of September and chief executive until the start of January, after which he will become executive chairman. Jonathan Painter, the current chairman, will step down from the board when the transition completes.
Colwell has been a senior vice president of the company since December 2024, running its industrial processing segment, one of Kadant's core divisions. He joined the group through its 2013 acquisition of Carmanah Design and Manufacturing, a Canadian equipment maker he had led as president and chief executive from 2010.
Kadant supplies equipment and consumables used in process industries, including systems for handling and recycling materials, fluid handling and industrial machinery components. Its products are used by paper, packaging, timber and other manufacturers, and the company has grown through a steady programme of acquisitions alongside organic expansion.
The phased handover, announced well ahead of the January start date, is designed to give customers, employees and investors a clear line of sight on the leadership change. Moving the incoming chief executive into the chief operating officer role first, then elevating him at the turn of the year, is a common device for reducing the risk that accompanies a change at the top of a public company.
For Colwell, the plan caps more than a decade inside the group and hands him responsibility for continuing an acquisition led growth strategy while managing the cyclical demand that comes with serving industrial customers.
Kadant has built its business through a disciplined acquisition strategy layered on top of steady organic growth, and its shares have rewarded long term holders even as the industrial cycle has swung. The incoming chief executive rose through the operating side of that strategy, and his elevation signals continuity in an approach that has favoured bolt on deals in adjacent niches over large transformational bets. Investors will watch how he balances further acquisitions against the demands of integrating what the group already owns, and how the business fares if industrial demand softens.
