Kadant announced that 13-year veteran Michael C. Colwell will become president and COO on Oct. 1, then CEO on Jan. 2, 2027, succeeding Jeffrey L. Powell. Powell will remain CEO until then and is to serve as executive chairman through Jan. 1, 2028.
Kadant's Q2 2026 revenue rose 23% year over year to a record $313 million, including 8% organic growth and contributions from acquisitions. Bookings increased 16% to $312 million, but organic bookings fell 1%. Gross margin declined 210 basis points to 43.8%, mainly because of product mix and the temporary effect of lower-margin acquired businesses.
Colwell has led Kadant's Industrial Processing segment since December 2024. He joined the company in 2013 when it acquired Kadant Carmanah Design, which he had led as president since 2010. Board chairman Jonathan W. Painter is due to leave the board on Jan. 2, 2027, when Powell is to take the executive-chair position.
