Kenneth R. Newsome
About Kenneth R. Newsome
Kenneth R. Newsome, age 65, has served on Tredegar Corporation’s Board since 2014. He is Executive Chairman and President of Markel Food Group, with deep manufacturing leadership experience from prior service as President & CEO of AMF Bakery Systems; the Board cites his manufacturing expertise and significant leadership credentials as core qualifications for TG’s board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Markel Food Group | Executive Chairman and President | Since 2008 (latest proxy); previously disclosed since Feb 2014 | Leads a global food processing/manufacturing business; brings manufacturing and leadership expertise to TG |
| AMF Bakery Systems, Inc. | President & CEO | Since 1996 (prior role) | Global industrial baking equipment manufacturing leadership experience |
External Roles
- Other public company boards: None disclosed for Mr. Newsome in TG’s proxy biography .
- Not-for-profit/academic boards: Not disclosed.
Board Governance
| Attribute | Details |
|---|---|
| Independence | Board affirmatively determined Mr. Newsome is independent under NYSE standards and TG Governance Guidelines . |
| Committees (2025) | Executive Compensation Committee (member); Nominating & Governance Committee (member) . |
| Committees (2024) | Executive Compensation Committee (member); Nominating & Governance Committee (member) . |
| Attendance | 100% of Board and committee meetings in 2024; at least 96% in 2023 . |
| Board leadership | Independent Chair; executive sessions of independent directors held regularly at each Board meeting . |
| Risk oversight | Audit Committee oversees financial, climate and cybersecurity risks; Nominating & Governance oversees governance; Executive Compensation oversees comp-related risk . |
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Annual Board Cash Retainer | $60,000 | $60,000 |
| Annual Board Stock Retainer | $90,000 | $90,000 |
| Chairman add’l retainers (not applicable to Newsome) | Cash $32,500; Stock $32,500 | Cash $32,500; Stock $32,500 |
| Committee fees (membership) | Audit: $9,500; Comp: $7,000; Nominating: $4,500 (non-chair) | Audit: $9,500; Comp: $7,000; Nominating: $4,500 (non-chair) |
| Newsome – Fees Earned (Cash) | $71,511 | $71,511 |
| Newsome – Stock Awards (Grant-date fair value) | $89,989 | $89,989 |
| Newsome – Total | $161,500 | $161,500 |
Performance Compensation
| Equity Grants to Directors (Newsome) | Jan 2, 2024 | Apr 1, 2024 | Jul 1, 2024 | Oct 1, 2024 |
|---|---|---|---|---|
| Non-Employee Director Shares (immediately vested) | 4,128 @ $5.45 | 3,526 @ $6.38 | 4,787 @ $4.70 | 3,142 @ $7.16 |
- Director equity retainer is delivered as fully vested stock; no performance metrics or vesting schedules apply to director awards (distinct from executive LTIs) .
Other Directorships & Interlocks
| Item | Status |
|---|---|
| Other public company directorships | None disclosed for Newsome . |
| Compensation Committee interlocks | None; Committee composed solely of independent non-employee directors, and no insider participation or interlocks disclosed . |
| Related-party transactions | None in 2024 or 2023 . |
Expertise & Qualifications
- Skills matrix: Senior Leadership; Public Company Board; Industry Experience; Corporate Governance; International; Financial. Risk Management not marked for Newsome .
- Board cites manufacturing and global leadership as key to his selection .
Equity Ownership
| Holder | Shares (Sole voting/investment) | Options/SARs (within 60 days) | Total | % of Class |
|---|---|---|---|---|
| Kenneth R. Newsome | 64,780 | 0 | 64,780 | <1% (based on 34,658,671 shares outstanding) |
| Director Stock Ownership Guidelines | Minimum 4x base annual cash retainer; 6-year compliance period; all directors except the 2025 new appointee met requirement . | |||
| Hedging/Pledging Policy | Hedging prohibited; pledging forbidden without prior Nominating & Governance Committee approval . |
Governance Assessment
- Board effectiveness and engagement: Newsome is a long-tenured independent director (since 2014) with 100% attendance in 2024, and active roles on Compensation and Nominating & Governance—consistent with strong board engagement and oversight .
- Alignment and incentives: He receives standard cash and stock retainers and holds 64,780 shares; robust director ownership guidelines (4x cash retainer) and anti-hedging/pledging policies support alignment with shareholders .
- Conflicts/related-party: No related-party transactions disclosed for 2024 or 2023; Compensation Committee interlocks not present, reducing conflict risk .
- Shareholder signals: TG’s 2024 say-on-pay support fell to ~60%, prompting outreach to holders representing >40% of shares; while focused on executive pay, the result reflects broader investor dissatisfaction with stock performance/business results and is a governance risk to monitor .
- RED FLAGS: Low 2024 say-on-pay approval (~60%) indicates investor concern; continued monitoring of compensation practices and performance linkage is warranted .
Overall, Newsome’s manufacturing expertise and committee roles bolster board oversight. Absence of conflicts and adherence to ownership/hedging policies are positive. The 2024 say-on-pay outcome is the primary governance caution signal tied to investor confidence .