Kadant Inc. (KAI) announced that Thomas M. O'Brien, executive vice president and chief financial officer (CFO), will retire from the company at the end of June 2015. The Company has begun a search to identify a successor. Mr. O'Brien will hand off his duties as CFO once a successor has been named and will assist in the orderly transition of his CFO responsibilities.
"Tom's contributions over the past twenty-plus years are evident in every part of our business," said Jonathan W. Painter, president and chief executive officer of Kadant Inc. "He has not only built a strong deep financial team, he has been a valued member of the senior management team contributing in all aspects of the Company's management. I'm grateful for Tom's assistance during the transition and wish him all the best in retirement."
"I've thoroughly enjoyed my years at Kadant and I'm proud of what we have accomplished. I believe Kadant is well positioned for continued success and the timing is right for me to begin the next chapter of my life," said Mr. O'Brien. "While I'm looking forward to spending more time with my family in retirement, I will miss my friends and colleagues at Kadant."
Mr. O'Brien joined the company in January 1991 and oversees the controller, treasury, investor relations, and tax functions.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company's products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with revenues of $344 million in 2013 and 1,800 employees in 18 countries worldwide.