Graham (GHM) said Thursday that President and Chief Executive Daniel Thoren will transition to the role of executive chairman, effective June 10.
The company said Thoren will remain active in the operations of the company for the foreseeable future. It also said that Thoren will serve as a strategic advisor.
Jonathan Painter, chairman of the board of Directors, will transition to lead independent director, Graham said.
The company also said it has appointed Matthew Malone as president and chief operating officer, effective Feb. 5, and will succeed Thoren as CEO in June. Malone served as the vice president and general manager of Graham's Barber-Nichols unit.
Graham said it reiterated its sales and adjusted EBITDA guidance as provided on Nov. 8.
Price: 50.03, Change: +0.31, Percent Change: +0.62
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