Tredegar CEO, CFO resign
Chesterfield-based Tredegar Corp. announced Friday that its CEO, Nancy M. Taylor, and CFO, vice president and treasurer, Kevin A. O’Leary, have resigned from the company. Taylor also resigned from Tredegar's board of directors. The company did not provide a reason for their resignation.
Brent King, Tredegar's general counsel and corporate secretary, said he could not share much beyond the firm's initial statement, but said the company is focused on improving return on investments it has made over the past few years.
Tredegar board member John D. Gottwald, who served for 17 years as Tredegar’s president and CEO, will serve as the company’s interim president and CEO until a replacement is found. D. Andrew Edwards, Tredegar’s vice president, CFO and treasurer from 2003 to 2009, will serve as the firm’s vice president, CFO and treasurer, effective the end of July.
William M. Gottwald, chairman of Tredegar‘s board of directors, thanked Taylor for her 23 years of service at the company.
“We are extremely grateful for her tireless efforts, especially the dedication she has shown which has enabled us to grow the company and build on our strengths,” he said in a statement.
Tredegar’s board also expressed gratitude to O’Leary.
“Today Tredegar continues to be in a strong financial position due in no small part to Kevin’s leadership,” Gottwald said. “We want to express our sincere gratitude for his service to this company and we wish him well in the future.”
Tredegar had 2014 net sales of $923 million, as opposed to net sales of $931 million in 2013. The company has approximately 2,700 employees and operates manufacturing facilities in North America, South America, Europe, and Asia.