Tredegar Appoints Industry Veteran David Parks to Board Amid Strategic Pivot

RICHMOND, VA – February 09, 2026 – Tredegar Corporation (NYSE:TG) has appointed David Parks, a seasoned executive with over three decades of experience in advanced materials and global operations, to its Board of Directors as an independent director. The move, announced today, comes as the industrial manufacturer sharpens its focus on its core businesses and navigates a period of significant leadership renewal.

Parks’ appointment is a key part of a broader strategic refresh at Tredegar, which recently saw Arijit (Bapi) DasGupta, former head of its PE Films division, ascend to the role of President and CEO on January 1, 2026. The addition of Parks to the board is seen as a move to inject deep operational and cross-sector expertise at a critical time for the company.

“David’s combination of extensive engineering experience, global commercial leadership, and strategic insight makes him an outstanding addition to the Board,” said Greg Pratt, Chairman of the Board, in the company’s official announcement. Mr. Pratt added, “His steady, inclusive leadership style and broad experience across advanced materials, consumer products and healthcare will help strengthen Tredegar’s long-term value for shareholders.”

A Strategic Fit for Evolving Markets

David Parks joins Tredegar as the company concentrates its efforts on two high-potential segments: custom aluminum extrusions and surface protection films. His background appears tailor-made to help navigate the distinct opportunities and challenges within these markets.

The North American aluminum extrusion market, which accounted for approximately 82% of Tredegar's consolidated net sales in 2024, is experiencing a significant upswing. Market projections estimate a compound annual growth rate (CAGR) of between 7% and 9% through the next decade, driven largely by the automotive and construction sectors. The rapid shift to electric vehicles (EVs) is a primary catalyst, with automakers increasingly using lightweight aluminum extrusions for body structures, battery enclosures, and crash-absorption systems to improve efficiency and extend range. Parks’ extensive experience in global operations and engineering, particularly his tenure as EVP at Berry Global, provides the board with a crucial perspective on optimizing manufacturing and supply chains to meet this surging demand.

Simultaneously, Tredegar’s surface protection films business, which serves the global electronics industry, is riding a wave of consistent growth. The global market for these films is projected to grow at a CAGR of around 6.8%, fueled by the unceasing demand for smartphones, tablets, and other consumer electronics. With Asia-Pacific serving as the manufacturing hub for this sector, Parks’ global commercial leadership experience will be invaluable as Tredegar seeks to expand its footprint and innovate in a competitive landscape that prizes durability, clarity, and sustainability.

From Engineer to Boardroom Strategist

Parks’ career represents a powerful blend of technical expertise and high-level strategic leadership. A magna cum laude graduate in Mechanical Engineering from the Georgia Institute of Technology, he built a 35-year career that spans engineering, manufacturing, supply chain, marketing, and general management. His journey includes foundational roles at industrial giants like Kimberly-Clark and Avintiv.

More recently, he served as President of the Americas at Magnera, a global materials solutions company formed from a merger with Glatfelter Corporation. During his leadership, the Americas segment was a major contributor to Magnera's $3.2 billion in net sales in fiscal 2025. Before that, his role as EVP of Global Operations & Engineering at Berry Global placed him at the center of managing complex, large-scale manufacturing processes for a major player in the packaging and materials space.

This unique trajectory—from the engineering schematics to the global C-suite—gives Parks a holistic understanding of industrial operations. His experience in consumer packaged goods and healthcare also provides a valuable external perspective that can challenge conventional thinking within Tredegar’s more traditional industrial framework.

Boardroom Dynamics and a New Era of Governance

The appointment of Parks expands Tredegar's board to eight members and comes ahead of a planned transition. Kenneth R. Newsome, a director since 2014, is set to retire at the 2026 Annual Meeting of Shareholders. The move signals a deliberate effort to refresh the board, which has an average tenure of 12 years, with new skills aligned with the company’s future direction.

Parks' arrival reflects a wider trend in corporate governance where industrial companies are actively recruiting independent directors with diverse, cross-sector experience. Such appointments are seen as critical for navigating complex global supply chains, rapid technological shifts, and increasing pressure for sustainable practices. By bringing in an executive with a background in adjacent but distinct industries like CPG and healthcare, Tredegar is better equipping itself to foster innovation and adapt to market volatility.

This board-level enhancement complements the recent change in executive leadership. The combination of a new CEO promoted from within and a new, highly experienced independent director suggests a coordinated strategy to build on the company's core strengths while pursuing new avenues for growth and operational excellence.

Navigating Headwinds and Capitalizing on Opportunity

Parks joins a company that has been making decisive strategic moves. In late 2024, Tredegar completed the sale of its flexible packaging films business, a move designed to sharpen its focus and unlock resources for its core aluminum and film segments. The strategy showed early promise, with the company reporting a 4.3% increase in net sales to $598.0 million for 2024 and a significant improvement in gross profit margin, which rose to 16.1% from 12.4% the prior year.

However, the path forward is not without challenges. The company faces raw material volatility, including recent tariff impacts on aluminum prices, and has received mixed signals from market analysts, with ratings ranging from “Hold” to a consensus “Sell” from one recent report. Furthermore, recent stock sales by significant long-term shareholders have been noted in public filings.

In this context, Parks’ appointment can be interpreted as a stabilizing force and a source of strategic guidance. His deep operational expertise is directly applicable to managing cost pressures and enhancing productivity—a key focus for Tredegar, which has earmarked $17 million for capital expenditures in its Aluminum Extrusions segment in 2025. His strategic insight will be instrumental as the new leadership team works to translate strong market tailwinds in the EV and electronics sectors into sustained, profitable growth and long-term shareholder value.