Kennametal (NYSE: KMT) taps Joseph Alvarado to succeed board chairman
Rhea-AI Filing Summary
Kennametal Inc. is implementing a planned board leadership transition. The Board has appointed Joseph Alvarado as incoming Chairman of the Board, effective October 28, 2026, following the retirement of current Chairman William M. Lambert at the conclusion of the annual meeting on October 27, 2026. Lambert has served on the board since March 2016 and as Chairman since October 2023. Alvarado has been an independent director since 2018 and chairs the Nominating/Corporate Governance Committee, bringing prior experience as Chairman, President and CEO of Commercial Metals Company.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
New Chairman effective date: October 28, 2026
Lambert board retirement date: October 27, 2026
Lambert board service start: March 2016
+4 more
7 metrics
New Chairman effective date
October 28, 2026
Date Joseph Alvarado becomes Chairman of the Board
Lambert board retirement date
October 27, 2026
Retirement at conclusion of Annual Meeting of Shareowners
Lambert board service start
March 2016
William M. Lambert joined Kennametal’s Board in March 2016
Lambert Chairman service start
October 2023
Began serving as Chairman of the Board in October 2023
Alvarado board service start
2018
Joseph Alvarado has been on the Board since 2018
Fiscal 2025 revenue
$2 billion
Kennametal revenues in fiscal 2025
Employees
approximately 8,100
Employees helping customers in nearly 100 countries
Key Terms
independent director, Nominating/Corporate Governance Committee, Preferred Stock Purchase Rights, par value, +1 more
5 terms
independent director regulatory
"Alvarado has served as an independent director of the Kennametal Board since 2018"
An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.
Nominating/Corporate Governance Committee regulatory
"has been chair of the Nominating/Corporate Governance Committee since 2023"
A nominating/corporate governance committee is a small group of a company’s board members tasked with choosing and evaluating directors and setting the rules that guide how the board operates. Think of it as the board’s hiring and rule-making team: it shapes leadership, board makeup, independence and ethical standards, which in turn influence how well the company is overseen and how investor interests are protected.
Preferred Stock Purchase Rights financial
"Preferred Stock Purchase Rights | | New York Stock Exchange"
par value financial
"Capital Stock, par value $1.25 per share | KMT"
Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.
Emerging growth company regulatory
"405) or Rule 12b-2 of the Securities Exchange Act of 1934 Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What board leadership change did Kennametal (KMT) announce?
Kennametal announced a board leadership transition, with Joseph Alvarado appointed incoming Chairman of the Board, succeeding William M. Lambert, who will retire from the board after the October 27, 2026 annual meeting.
When will William M. Lambert retire from Kennametal's (KMT) board?
William M. Lambert will retire from the Board, including as Chairman, at the conclusion of Kennametal’s Annual Meeting of Shareowners on October 27, 2026, ending his service that began in March 2016.
When does Joseph Alvarado become Chairman of Kennametal (KMT)?
Joseph Alvarado will become Chairman of the Board on October 28, 2026. He has served as an independent director since 2018 and currently chairs the Nominating/Corporate Governance Committee.
What is Joseph Alvarado's background relevant to Kennametal (KMT)?
Joseph Alvarado is the retired Chairman, President and CEO of Commercial Metals Company, a global steel and metals business. He also serves on boards including Arcosa, PNC Financial Services Group and Trinseo.
How large is Kennametal (KMT) based on fiscal 2025 data?
Kennametal generated $2 billion in revenues in fiscal 2025 and employs approximately 8,100 people serving customers in nearly 100 countries, reflecting a sizable global industrial technology footprint.
What statement did Kennametal's CEO make about the leadership transition?
President and CEO Sanjay Chowbey thanked Lambert for his leadership and described Alvarado as the right leader to serve as the next Chairman, citing his industrial experience and understanding of Kennametal’s strategy.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): July 22, 2026
(Exact Name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||||||||
| (Address of Principal Executive Offices) | (Zip Code) | ||||||||||||||||
Registrant’s telephone number, including area code: (412 ) 248-8000
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On July 28, 2026, the Board of Directors (“Board”) of Kennametal Inc. (the “Company”) announced that Mr. William M. Lambert provided notice of his intention to retire from the Board, including his position as Chairman of the Board, to take effect at the conclusion of the annual shareholder’s meeting on October 27, 2026. Mr. Lambert has served on the Company’s Board of Directors since March 2016 and has served as Chairman of the Board since October 2023. The Board has appointed Joseph Alvarado as his successor. Mr. Alvarado has been on the Board since 2018 and has been chair of the Nominating/Corporate Governance Committee since 2023.
Mr. Alvarado is the retired Chairman, President and CEO of Commercial Metals Company (“CMC”), a global manufacturer, recycler and marketer of steel and other metals. He joined CMC in April 2010 as Executive Vice President and Chief Operating Officer (“COO”) and became President and COO in April 2011. He was named President and CEO and elected to CMC’s Board in September 2011; he served as Chairman of the Board from January 2013 until his retirement in January 2018. Before joining CMC, Mr. Alvarado was the President of U.S. Steel Tubular Products, Inc., a division of United States Steel Corporation. Throughout his career, Mr. Alvarado served in various leadership and executive positions including President and COO of Lone Star Technologies, Inc., Vice President-Long Products Sales and Marketing for Ispat North America, Inc., Executive Vice President, Commercial at Birmingham Steel Company, and President of Inland Steel Bar Company. Mr. Alvarado has an MBA from the Johnson School, Cornell University and a Bachelor of Arts degree in Economics from the University of Notre Dame.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release dated July 28, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| KENNAMETAL INC. | |||||||||||||||||||||||||||||
| Date: | July 28, 2026 | By: | /s/ Michelle R. Keating | ||||||||||||||||||||||||||
| Michelle R. Keating | |||||||||||||||||||||||||||||
| Vice President, Secretary and General Counsel | |||||||||||||||||||||||||||||
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Exhibit 99.1
FOR IMMEDIATE RELEASE:
DATE: July 28, 2026
| Investor Relations | Media Relations | ||||
| CONTACT: Michael Pici | CONTACT: Lori Lecker | ||||
| PHONE: 412-790-0792 | PHONE: 412-248-8224 | ||||
| michael.pici@kennametal.com | lori.lecker@kennametal.com | ||||
Kennametal Announces Board Leadership Transition
Joseph Alvarado Appointed Incoming Chairman; William Lambert to Retire in October
PITTSBURGH, July 28, 2026 — Kennametal Inc. (NYSE: KMT) today announced that its Board of Directors has appointed Joseph Alvarado as incoming Chairman of the Board, effective October 28, 2026. Alvarado will succeed William M. Lambert, current Chairman of the Board, who will retire from the Board at the conclusion of the Company’s Annual Meeting of Shareowners on October 27, 2026.
"Serving on Kennametal's Board has been a privilege and one of the most rewarding experiences of my career," said Lambert. "After careful consideration, I have decided that the time is right for this transition. I have great confidence in the Company's strategy, leadership team and Board colleagues, and I look forward to watching Kennametal continue to build on its strong foundation and create value for all stakeholders."
"Bill has been an outstanding Chairman and trusted advisor," said Sanjay Chowbey, President and CEO. "His leadership, strategic guidance and commitment to strong governance have helped position us for long-term success. On behalf of the Board, leadership team and employees around the world, I want to thank Bill for his dedicated service."
Lambert joined the Kennametal Board in 2016 and has served as Chairman since 2023. During his tenure as Chairman, Lambert helped guide Kennametal through a period of significant transformation, including leadership succession, portfolio actions and continued focus on long-term shareholder value.
Alvarado has served as an independent director of the Kennametal Board since 2018 and has been chair of the Nominating/Corporate Governance Committee since 2023. He is also a member of the Board of Directors of Arcosa, Inc.; PNC Financial Services Group, Inc.; and Trinseo, S.A.
“Joe is the right leader to serve as our next Chairman,” said Chowbey. “He brings deep industrial experience, strong public company leadership and a practical understanding of manufacturing, operations and capital allocation. Having served on our Board for several years, he also understands Kennametal, our strategy and the opportunities ahead. I look forward to continuing to work with him as we execute our plans and build long-term value for shareholders.”
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Alvarado is the retired Chairman, President and CEO of Commercial Metals Company (“CMC”), a global manufacturer, recycler and marketer of steel and other metals. He joined CMC in April 2010 as Executive Vice President and Chief Operating Officer and other roles of increasing responsibility. Before joining CMC, Alvarado was the President of U.S. Steel Tubular Products, Inc., a division of United States Steel Corporation.
Alvarado holds an MBA from the Johnson School, Cornell University and a Bachelor of Arts degree in Economics from the University of Notre Dame.
About Kennametal
With over 85 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace and defense, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 8,100 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated $2 billion in revenues in fiscal 2025. Learn more at www.kennametal.com. Follow @Kennametal: Instagram, Facebook, LinkedIn and YouTube.
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