Graham President And CEO Daniel Thoren To Transition To Executive Chairman

Graham

30.20 EUR -1.95%

• Charts
• News
• Analysen

Kaufen Verkaufen

(RTTNews) - Graham Corp. (GHM) announced Thursday key leadership changes as part of its established succession plan. The company named Daniel Thoren, President and Chief Executive Officer, to transition to the role of Executive Chairman, effective June 10, 2025 and will remain active in the operations of the Company for the foreseeable future.

As part of the transition, Thoren will serve as a strategic advisor, focusing on guiding strategy and helping the Company grow through business development. With this change, Jonathan Painter, Chairman of the Board of Directors, will transition to Lead Independent Director.

In alignment with this plan, the Board of Directors has approved the appointment of Matthew Malone as President and Chief Operating Officer, reporting to Thoren, effective February 5, 2025.

In this role, Malone will oversee, guide and lead each of the Company's business units. Prior to this appointment, Malone has served as Vice President and General Manager of Barber-Nichols since 2021.

Concurrently, Michael Dixon, Director of Sales and Marketing of Barber-Nichols, will be promoted to General Manager of Barber-Nichols reporting to Malone, effective February 5, 2025.

The Company further announced its intention for Malone to assume the role of Chief Executive Officer on June 10, 2025, and the expectation of his appointment to the Board of Directors.

At that time, Dixon is expected to assume the role of Vice President of Graham Corp. and General Manager of Barber-Nichols.

Malone brings over 15 years of engineering and executive experience to his new role as President and Chief Operating Officer. He joined Barber-Nichols in 2015 as a Project Engineer focused on rocket engine turbopump design and development.

Malone was promoted to Navy Program Manager in 2018, overseeing key U.S. Navy programs and was appointed Vice President of Operations at Barber-Nichols in 2020 and then General Manager in 2021. Earlier in his career, he held a variety of engineering and management positions at GE Transportation.

The Company also reiterated its sales and Adjusted EBITDA guidance as provided on November 8, 2024.