Kennametal Announces Board Leadership Transition and New Chairman Appointment

Kennametal's Board Leadership Transition

Kennametal Inc. (NYSE: KMT), a leading industrial technology company, has officially announced a significant change within its Board of Directors, appointing Joseph Alvarado as the incoming Chairman, effective October 28, 2026. This transition comes as current Chairman William M. Lambert prepares to retire at the conclusion of the Company's Annual Meeting of Shareowners on October 27, 2026.

In light of this forthcoming change, Lampert expressed his gratitude for his time on Kennametal's Board, stating, "Serving on Kennametal's Board has been a privilege and one of the most rewarding experiences of my career." He indicated that after careful reflection, he believes that now is the right moment to hand over the reins. Lambert also expressed confidence in the company’s strategic direction, leadership team, and fellow Board members, and he looks forward to witnessing Kennametal's continued growth and value creation for stakeholders.

Sanjay Chowbey, President and CEO of Kennametal, praised Lambert's tenure, acknowledging him as an exceptional Chairman and trusted advisor. Chowbey highlighted Lambert's instrumental role in steering the company through crucial changes including leadership transitions and a persistent focus on long-term shareholder value. Lambert joined Kennametal's Board in 2016 and took on the Chairman role in 2023, guiding the company through a transformative phase that included various strategic initiatives.

Joseph Alvarado, the appointed Chairman, has been part of Kennametal's Board as an independent director since 2018. Alvarado has established himself as the chair of the Nominating/Corporate Governance Committee since 2023 and brings to the table a wealth of experience from his notable career. Beyond his role at Kennametal, he sits on the Board of Directors of several companies including Arcosa, Inc., PNC Financial Services Group, Inc., and Trinseo S.A.

Regarding Alvarado's upcoming leadership, Chowbey stated, "Joe is the right leader to serve as our next Chairman. He brings extensive industrial experience and strong public company leadership alongside a practical understanding of manufacturing, operations, and capital allocation." Having spent several years on the Board, Alvarado is well-versed in Kennametal's strategy and is aware of the opportunities that lie ahead, leading to anticipation of his contributions as the organization works towards its objectives and aims for long-term value creation for shareholders.

Alvarado has previously held the position of Chairman, President, and CEO of Commercial Metals Company (CMC), a prominent global entity for manufacturing, recycling, and marketing steel and other metals. He joined CMC in April 2010, ascending through various roles of increased responsibility. Before that, he was the President of U.S. Steel Tubular Products, a division of the United States Steel Corporation.

Educated with an MBA from the Johnson School at Cornell University, along with a Bachelor of Arts in Economics from the University of Notre Dame, Alvarado carries a strong educational background to complement his professional expertise.

As a company with a remarkable history spanning over 85 years as an industrial technology leader, Kennametal Inc. excels in offering productivity and innovative solutions to its customers, fostering operational efficiency through advanced materials science and tooling. With a diverse workforce comprising nearly 8,100 employees, Kennametal supports customers across various sectors including aerospace and defense, energy, earthworks, and general engineering, remaining a valuable partner in the industry. Having reported approximately $2 billion in revenues in fiscal 2025, Kennametal showcases its capability to enhance competitiveness for its customers globally. To stay informed about Kennametal and its ongoing developments, visit www.kennametal.com and follow them on their social media channels including Instagram, Facebook, LinkedIn, and YouTube.