Tredegar Corporation announced that John D. Gottwald plans to retire as Tredegar's president and chief executive officer. He will continue to serve as a member of Tredegar's board of directors and its executive committee. Tredegar's board of directors has elected John M. Steitz to succeed Mr. Gottwald as Tredegar's president and chief executive officer.

Mr. Steitz's election and Mr. Gottwald's retirement will be effective as of the day following the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2018 with the Securities and Exchange Commission, which is expected to occur on March 18, 2019. Mr. Steitz, who has been a director of Tredegar since 2017. Mr. Steitz served as Chief Executive Officer of Addivant Corporation from March 2015 until January 2019.

Prior to his position at Addivant Corporation, Mr. Steitz served as President and Chief Operating Officer of PQ Corporation from October 2013 until March 2015 and as President and Chief Executive Officer of Avantor Performance Materials prior to that.