Management ChangeJun 17, 2026, 07:31 AM
Graham Appoints Jonathan Painter Chairman; Daniel Thoren Retires
AI Summary
Graham Corporation announced that Daniel J. Thoren stepped down as Executive Chairman and director, effective June 15, 2026, as part of a planned executive transition. Mr. Thoren will continue as a Strategic Advisor until June 2027, focusing on business development initiatives and receiving an annual base salary of $150,000, with his unvested equity awards continuing to vest. Concurrently, Jonathan W. Painter was appointed Chairman of the Board of Directors, reassuming a role he held until June 2025. Additionally, Alan E. Smith, former Vice President and General Manager of Graham Manufacturing, also transitioned to a Strategic Advisor role with a $150,000 annual base salary.
Key Highlights
- Daniel J. Thoren resigned as Executive Chairman and director, effective June 15, 2026.
- Thoren transitioned to Strategic Advisor until June 15, 2027, with an annual base salary of $150,000.
- Thoren's unvested performance-vesting and time-vesting restricted stock units will continue to vest.
- Jonathan W. Painter was appointed Chairman of the Board of Directors, effective June 15, 2026.
- Painter previously served as Chairman until June 2025 and then as Lead Independent Director.
- Alan E. Smith transitioned from VP and GM of Graham Manufacturing to Strategic Advisor.
- Smith will receive an annual base salary of $150,000 during his transition period.
- The Board will return to seven directors, consistent with its prior structure.
Price Impact
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