Graham Corporation Announces Key Leadership Changes and Succession Plan

Graham Corporation, a leading player in the design and manufacture of essential fluid, power, heat transfer, and vacuum technologies, recently disclosed significant changes in its leadership structure. On February 5, 2025, the company formalized adjustments in its executive team to fortify its foundation and bolster ongoing growth.

Daniel J. Thoren, the current President and Chief Executive Officer (CEO) of Graham Corporation, has entered into an amended and restated employment agreement with the company. Thoren will transition to the role of Executive Chairman effective June 10, 2025, focusing on strategic guidance and business development. There will be no modifications to Thoren’s compensation during his remaining tenure as CEO. Once in his position as Executive Chairman, his annual base salary will amount to $250,000. Furthermore, he will be entitled to participate in the Annual Executive Cash Bonus Program and the Annual Stock-Based Long-Term Incentive Award Plan for Senior Executives.

Matthew J. Malone has been appointed as the President and Chief Operating Officer (COO) of Graham Corporation, effective February 5, 2025, until June 9, 2025. Upon the commencement of his tenure as President and CEO on June 10, 2025, his annual base salary will be $480,000. Malone is set to participate in various incentive programs, ensuring continuity in the company’s growth strategy. His appointment as CEO on June 10, 2025, is intended to provide a seamless succession.

The Board of Directors’ approval of these executive changes aligns with Graham Corporation’s established succession strategy. These transitions showcase the company’s commitment to fostering exceptional talent and ensuring continuous advancement. The company reiterated its sales and Adjusted EBITDA guidance as communicated on November 8, 2024.

Upon the successful execution of these leadership transitions, Jonathan W. Painter, Chairman of the Board, will assume the role of Lead Independent Director. The appointments of Thoren as Executive Chairman and Malone as President and CEO are integral steps in Graham Corporation’s long-term strategic planning.

For detailed financial results and additional information, interested parties can refer to the press release dated February 6, 2025, which elaborates on the leadership succession plan at Graham Corporation.

Investors and stakeholders can anticipate further insights into Graham Corporation’s fiscal third-quarter results during the upcoming earnings conference call scheduled for February 7, 2025.

The revised employment agreements and detailed information on the leadership succession plan have been filed with the U.S. Securities and Exchange Commission in the Form 8-K.

The company remains committed to providing top-tier products and services as it navigates these executive transitions towards continued success and growth in its respective industries.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Graham’s 8K filing here.

Graham Company Profile

Graham Corporation, together with its subsidiaries, designs and manufactures fluid, power, heat transfer, and vacuum equipment for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, energy, and other industries. It offers power plant systems, including ejectors and surface condensers; torpedo ejection, propulsion, and power systems, such as turbines, alternators, regulators, pumps, and blowers; and thermal management systems comprising pumps, blowers, and drive electronics for defense sector.