Timothy Lowe
Greenidge Generation HoldingsAbout Timothy Lowe
Timothy Lowe (age 66) is an independent director of Greenidge Generation Holdings Inc. (GREE) and has served on the Board since February 2014. He brings decades of pulp and paper operating leadership, including CEO roles at Twin Rivers Paper (2013–2016), Finch Paper, and Northern Pulp (until its sale in 2011), and nearly 30 years at Domtar in progressively senior roles; he currently sits on advisory/manager boards at Twin Rivers, Finch Paper, and New Wood Resources . He is deemed independent under Nasdaq rules and serves on Greenidge’s Audit Committee, meeting financial literacy requirements; the Board is a controlled company with specified governance practices and executive sessions at least twice per year .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Twin Rivers Paper | Chief Executive Officer | Jun 2013 – Jun 2016 | Led operations in pulp & paper; subsequent advisory chair role |
| Finch Paper | Chief Executive Officer | Not disclosed (prior to 2011) | CEO leadership prior to Northern Pulp sale timeline |
| Northern Pulp | Chief Executive Officer | Until sale in 2011 | Led through sale; pulp mill operations expertise |
| Domtar Industries Inc. | Various roles incl. General Manager, Woodland, ME | ~30 years | Large-scale manufacturing management |
External Roles
| Organization | Role | Start Date | Notes |
|---|---|---|---|
| Twin Rivers Paper | Director; Chairman of Advisory Board | Director since Jun 2016 | Current Chairman of the Advisory Board |
| Finch Paper | Board of Managers member | Jun 2014 | Ongoing governance oversight |
| New Wood Resources | Board of Managers member | Jan 2019 | Ongoing governance oversight |
Board Governance
- Committees: Lowe is a member of the Audit Committee, alongside Michael Neuscheler (Chair) and Kenneth Fearn; all three are independent and meet Nasdaq/SEC financial literacy/sophistication standards .
- Other committees: Capital Committee (Fazio, Lay) and Affiliate Transaction Committee (Kovler, Neuscheler, Rogers); Lowe is not listed on these .
- Independence: The Board determined Lowe is independent; Greenidge is a “controlled company” under Nasdaq rules and not required to have independent-majority Board or independent comp/nomination committees .
- Attendance: The Board met four times in 2024; each director attended at least 75% of Board and applicable committee meetings .
- Executive sessions: Independent directors meet at least twice per year in executive session .
- Anti-hedging/pledging: Company policy prohibits hedging and pledging of Company securities by directors and employees .
Fixed Compensation
| Component | 2024 Actual (Lowe) | 2025 Policy (effective Jan 1, 2025) | Notes |
|---|---|---|---|
| Board annual cash retainer | $30,000 | $40,000 | Compensation Committee increased Board retainer for 2025 |
| Vice Chair fee | N/A | $20,000 | Lowe is not Vice Chair |
| Audit Committee Chair fee | N/A | $10,000 | Lowe is an Audit Committee member, not Chair |
- 2024 director compensation mix for Lowe: cash only; no stock awards or option awards reported .
Performance Compensation
| Performance-linked component | Metrics | Status |
|---|---|---|
| Director equity/bonus tied to performance | Not disclosed | No performance-based director compensation metrics disclosed in proxy |
Other Directorships & Interlocks
- Current public company boards: None disclosed for Lowe in proxy .
- Private/industry boards: Twin Rivers Paper (Director; Advisory Board Chair), Finch Paper (Board of Managers), New Wood Resources (Board of Managers) .
- Controlled company context: Atlas Holdings-affiliated entities control 70.4% of voting power as of Apr 25, 2025; Affiliate Transaction Committee oversees transactions involving the controlling stockholder and affiliates .
Expertise & Qualifications
- Deep pulp & paper operations and turnaround leadership; former CEO at multiple mills; long-tenured Domtar experience .
- Financial literacy/sophistication sufficient for Audit Committee service per Nasdaq standards .
- Board tenure: Director since 2014, bringing continuity and sector operations insight .
Equity Ownership
| Holder | Class A Shares | Class B Shares | Percent Ownership | Percent Voting Power |
|---|---|---|---|---|
| Timothy Lowe | 2,400 | 7,121 | <1% (“*” per proxy) | <1% (“*” per proxy) |
- Ownership structure: Class A = 1 vote/share; Class B = 10 votes/share .
- Pledging/hedging: Prohibited by Company policy; no pledges disclosed for Lowe .
- Equity awards/RSUs/options: None disclosed for Lowe; 2024 director compensation shows no stock/option awards .
Governance Assessment
- Positives: Lowe is independent and on the Audit Committee, enhancing financial oversight; Audit Committee meets independence and literacy standards; independent director executive sessions occur at least twice per year; anti-hedging/pledging policy strengthens alignment .
- Risks/Red flags: Greenidge is a controlled company with Atlas holding 70.4% voting power as of Apr 25, 2025, reducing shareholder influence; related-party transactions exist with Atlas affiliates (e.g., letters of credit support and property purchases); Lowe’s personal share ownership is small, limiting “skin in the game” optics .
- Mitigants: Affiliate Transaction Committee reviews/approves transactions with the controlling stockholder; Audit Committee structure and financial expert designation support reporting integrity .
Overall signal: Lowe’s independence and Audit participation are governance positives, but controlled company dynamics and Atlas-related transactions warrant continued monitoring for conflicts; Lowe’s limited equity stake suggests modest ownership alignment, though anti-pledging/hedging policies help reduce misalignment risk .