Graham Corporation, a global leader in mission-critical fluid, power, heat transfer, and vacuum technologies, has announced key leadership changes as part of its established succession plan. President and CEO Daniel J. Thoren will transition to the role of Executive Chairman, effective June 10, 2025, and remain active in the company's operations. Matthew J. Malone, the current Vice President and General Manager for Graham subsidiary Barber-Nichols, has been appointed President and COO, effective February 5, 2025, and is expected to assume the CEO role in June 2025.
Furthermore, Michael E. Dixon, Director of Sales and Marketing of Barber-Nichols, will be promoted to General Manager of Barber-Nichols, effective February 5, 2025. The company also announced its intention for Malone to assume the role of CEO 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 Corporation and General Manager of Barber-Nichols.
According to the press release, Graham Corporation has reiterated its sales and adjusted EBITDA guidance as provided on November 8, 2024. The company will provide additional details on its fiscal third-quarter 2025 results during its earnings conference call scheduled for February 7, 2025.
Graham Corporation's Chairman of the Board of Directors, Jonathan W. Painter, expressed his pleasure with the leadership appointments, highlighting the bench strength of the executive team and the company's commitment to developing exceptional talent. Daniel J. Thoren, the outgoing CEO, expressed his gratitude for leading Graham and highlighted the strong talent within the organization. He expressed confidence in the new leadership structure and the company's ability to continue thriving and creating value for stakeholders.
Matt Malone, the incoming President and COO, brings over 15 years of engineering and executive experience to his new role. Michael E. Dixon, the newly appointed General Manager of Barber-Nichols, has been an integral part of the company for the past six years and has played a pivotal role in expanding the company’s technical capabilities and securing major contracts in the space, aerospace, and defense sectors.
Graham Corporation is set to announce additional details about its fiscal third-quarter 2025 results during its upcoming earnings conference call, providing stakeholders with a comprehensive financial update. The market has reacted to these announcements by moving the company's shares -6.3% to a price of $46.6. If you want to know more, read the company's complete 8-K report here.
