Manufacturing 2023: JOHN M. STEITZ

PRESIDENT AND CEO, TREDEGAR, CHESTERFIELD COUNTY

Published August 30, 2023 by Virginia Business

A global manufacturer of plastic films and aluminum extrusions, Tredegar is a 1989 spinoff of Richmond fuel additives company Ethyl.

Steitz was named president and CEO in 2019 following the retirement of John D. Gottwald, who had served in the role for 30 years. Steitz had served on Tredegar’s board of directors since 2017 while also serving as CEO of polymer additives supplier Addivant, which merged with SI Group in 2018. He was also a director of specialty-grade phosphate producer Innophos Holdings from 2008 until 2020, when it was acquired.

Tredegar reported an 18.3% increase in net sales for fiscal year 2022, compared with 2021, climbing from $539.3 million to $637.8 million, but earnings were down in the first quarter of 2023, due to a “significant slowdown” in demand for its products that has also led to excess inventory. The company employs approximately 2,200 people and operates manufacturing facilities in North America, South America and Asia.

Steitz has a bachelor’s degree in chemical engineering from University of Missouri-Columbia and an MBA from Southern Illinois University Edwardsville.