Kadant Inc. said Michael C. Colwell will become president and chief operating officer on October 1, 2026, and president, chief executive officer and a director on January 2, 2027, under a board-approved succession plan. The company's shares fell 1% in after-hours trading following the announcement. Jeffrey L. Powell will remain CEO through January 2, 2027, then become executive chairman, while Jonathan W. Painter will retire as chairman and from the board that day. Colwell has been responsible for Kadant's Industrial Processing segment and previously held leadership roles covering its wood processing and fiber-based products businesses. Powell is expected to remain chairman in a non-executive role until his retirement on January 1, 2028. Kadant, based in Westford, Massachusetts, has approximately 4,000 employees across 22 countries.