Kadant Elects Thomas Leonard to Board of Directors
ACTON, Mass.--(BUSINESS WIRE)--June 8, 2005--Kadant Inc. (NYSE:KAI) announced that Mr. Thomas C. Leonard was elected to the company's board of directors at its annual meeting of shareholders yesterday. The board of directors also appointed Mr. Leonard to serve on its audit committee and designated him the company's "audit committee financial expert." Mr. Leonard, age 51, has more than 25 years of experience providing financial services to global and national organizations in a range of industries including high-tech, energy, and manufacturing.
Since 2002, he has been a managing director in the financial and economic consulting team of Huron Consulting Group, LLC, a publicly traded management consulting firm. Before that, Mr. Leonard spent much of his career at the former independent accounting firm Arthur Andersen LLP, most recently serving as a senior partner and partner-in-charge of its New England assurance and business advisory practice. He is a certified public accountant and holds a Bachelor of Science degree in accounting and finance from the University of Wisconsin.
"I'm pleased to welcome Tom to our board," said William A. Rainville, chairman and chief executive officer of Kadant. "After working for many years as a financial advisor to major firms in a variety of industries, Tom is a seasoned expert and well-versed in the new regulations that affect public companies today. With his in-depth experience, Tom will be a strong addition to our board."
Kadant Inc. is a leading supplier to the global pulp and paper industry, with a range of products and services for improving efficiency and quality in pulp and paper production, including paper machine accessories, and systems for stock preparation, fluid handling, and water management. Our fluid-handling products are also used to optimize production in the steel, rubber, plastics, food, and textile industries. In addition, we produce granules from papermaking byproducts for agricultural and lawn and garden applications. Kadant is based in Acton, Massachusetts, and, with the addition of Kadant Johnson in May 2005, has annual revenues of approximately $270 million and approximately 1,500 employees worldwide. For more information, visit www.kadant.com.
CONTACT: Kadant Inc.
Investor contact:
Thomas M. O'Brien, 978-776-2000
or
Media contact:
GreatPoint Communications, 978-392-6866
SOURCE: Kadant Inc.