Kadant Announces CEO Succession Plan

Kadant Inc. announced that Michael Colwell was appointed as President and Chief Operating Officer effective October 1, and as President, CEO and a Director effective January 2, 2027, as part of a succession plan. Jeffrey Powell will continue to serve as CEO through January 2, at which time he becomes Executive Chairman of the Board of Directors. Jonathan Painter, the company’s current chairman, will cease to serve as a director and as chairman on January 2.

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. 

Colwell previously served as 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 strandboard industry. Colwell served as president and CEO 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 Powell for one year following the appointment of his successor as CEO. In his new position as executive chairman, Powell will continue to participate in strategic planning and acquisition activities, consult with management on operational matters, and be responsible for corporate governance matters. 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.

Colwell comments, “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.”

Kadant is based in Westford, Mass. with approximately 4,000 employees in 22 countries.