Graham Corporation said Jonathan W. Painter has been appointed chairman of the board, effective June 15, 2026, replacing Daniel J. Thoren, who is retiring from the board and stepping down as executive chairman.
Thoren will remain with the company as a strategic advisor through June 2027, with a focus on business development initiatives. Painter previously served as chairman until June 2025, then moved to lead independent director during the company’s CEO succession process. With Thoren’s departure from the board, Graham said its board will return to seven directors from eight.
The leadership change completes the next phase of the succession plan Graham outlined in February 2025. Thoren moved from president and CEO to executive chairman in June 2025, while Matthew J. Malone became president and CEO at that time. The company said Malone has since delivered “strong operational and financial performance” under his leadership over the past year.
Painter said the board is “completing the next phase” of the planned transition and praised Thoren’s contributions over the last five years. Thoren said the company is “well-positioned for future growth” and that he will continue supporting Graham as a strategic advisor. The market has reacted to these announcements by moving the company's shares 1.38% to a price of $115.015. For more information, read the company's full 8-K submission here.
