Tredegar Corporation announced that long‑time chief executive officer John M. Steitz will retire effective December 31, 2025, and that Arijit (Bapi) DasGupta will become president and chief executive officer effective January 1, 2026. DasGupta, who has led the company’s PE Films business since 2015, will oversee the two core segments—custom aluminum extrusions for North American markets and surface‑protection films for global electronics customers.
The transition follows a period of strong financial turnaround. In the third quarter of 2025, Tredegar reported net income from continuing operations of $7.1 million, a dramatic improvement from a $3.4 million loss in the same quarter of 2024. Net income from ongoing operations rose to $9.2 million in Q3 2025, compared with just $0.2 million in Q3 2024, reflecting a sharp rebound in both segments. The company’s aluminum extrusions unit generated EBITDA of $16.8 million in Q3 2025, up from $6.2 million a year earlier, while sales volume climbed to 41.3 million pounds from 34.6 million pounds year‑over‑year.
Tredegar’s financial performance in 2024 set the stage for the leadership change. The company posted a net income from ongoing operations of $17.2 million, a turnaround from a $2.0 million loss in 2023. The improvement was driven by higher margins in the PE Films segment and a disciplined cost‑control program that offset rising raw‑material costs. Management highlighted the sale of the Terphane flexible‑packaging business in November 2024, which strengthened the balance sheet and freed capital for future growth.
The appointment of DasGupta signals continuity and confidence in the company’s strategic direction. He has overseen the PE Films unit’s expansion into high‑performance coatings for the semiconductor industry, a market that has shown resilient demand. Steitz’s retirement after more than two decades of leadership is described by the board as a planned succession that preserves institutional knowledge while positioning Tredegar for the next growth phase.
Analysts noted the mixed outlook for the company’s stock, citing a range of views on valuation and future earnings. The market reaction to the announcement was muted, with the stock trading within a narrow range on the day of the announcement, reflecting a balance between the positive view of the company’s turnaround and concerns about the broader industrial environment.
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