Joseph Alvarado Named Incoming Chairman; William Lambert Set to Retire in October

, /PRNewswire/ - Kennametal Inc. (NYSE: KMT) has announced that its Board of Directors selected Joseph Alvarado to serve as the next Chairman of the Board, starting October 28, 2026. Alvarado will take over from William M. Lambert, the present Chairman, who plans to step down from the Board after the Company's Annual Meeting of Shareowners concludes on October 27, 2026.

"It has been an honor to serve on Kennametal's Board and one of the highlights of my professional journey," Lambert noted. "Following thoughtful review, I believe this is the appropriate moment for change. I hold strong belief in the Company's direction, its executive group and fellow Board members, and I am eager to see Kennametal build upon its solid base while delivering value to every stakeholder."

"Bill has proven to be an exceptional Chairman and reliable guide," stated Sanjay Chowbey, President and CEO. "His direction, insightful counsel and dedication to sound governance have placed the organization on a path for sustained achievement. Representing the Board, executive team and staff worldwide, I extend gratitude to Bill for his steadfast contributions."

Lambert became a Kennametal Board member in 2016 and assumed the Chairman role in 2023. Throughout his time leading the Board, he supported the company during key changes, such as executive transitions, business adjustments and ongoing emphasis on lasting shareholder returns.

Alvarado has been an independent member of the Kennametal Board since 2018 and has chaired the Nominating/Corporate Governance Committee since 2023. He also serves on the boards of Arcosa, Inc.; PNC Financial Services Group, Inc.; and Trinseo, S.A.

"Joe stands out as the ideal choice for our upcoming Chairman," Chowbey added. "He offers extensive industrial background, proven public company oversight and hands-on knowledge of manufacturing, operations and resource distribution. With years of service on our Board, he grasps Kennametal's approach and the prospects that lie ahead. I am eager to partner with him in carrying out our initiatives and generating lasting returns for investors."

Alvarado previously served as Chairman, President and CEO of Commercial Metals Company (CMC), a worldwide producer, recycler and seller of steel and related metals. He started at CMC in April 2010 as Executive Vice President and Chief Operating Officer, advancing through additional positions of greater scope. Prior to CMC, he led U.S. Steel Tubular Products, Inc., a unit of United States Steel Corporation.

Alvarado earned an MBA from the Johnson School at Cornell University along with a Bachelor of Arts in Economics from the University of Notre Dame.

About Kennametal

With more than 85 years as a leader in industrial technology, Kennametal Inc. provides productivity gains to clients via materials science, tooling and wear-resistant offerings. Clients in aerospace and defense, earthworks, energy, general engineering and transportation rely on Kennametal for precise and efficient manufacturing support. Roughly 8,100 employees assist customers in nearly 100 countries each day to maintain their competitive edge. Kennametal reported close to $2 billion in revenues for fiscal 2025. Discover more on the company website. Follow @Kennametal on Instagram, Facebook, LinkedIn and YouTube.

SOURCE Kennametal Inc.