Manufacturing 2025: GOTTWALD, THOMAS E. ‘TEDDY’

NewMarket is the parent company of subsidiaries that specialize in petroleum additives and critical performance additives used in space launch and military defense applications.

Gottwald, whose grandfather Floyd Gottwald’s Albemarle Paper Manufacturing purchased the Ethyl Gasoline Corp. in 1962, is a member of one of the nation’s wealthiest families. Ethyl, now called NewMarket, now has multiple spinoffs, including Afton Chemical and NewMarket Development, which focuses on real estate projects.

A Virginia Military Institute graduate, Teddy Gottwald joined the family company in 1984 and became president and CEO in 2004. He succeeded his father, Bruce Gottwald Sr., as board chairman in 2014.
In April, NewMarket’s board approved a $100 million capital investment by subsidiary American Pacific Corp. to expand the company’s capacity to produce components for solid rocket motors.

A member of VMI’s board of visitors, Gottwald served as interim board president earlier this year to fulfill the remaining term of John Adams, who resigned from the post. The board generated controversy in February for not renewing the contract of the school’s first Black superintendent, Maj. Gen. Cedric Wins. Gottwald is a major donor to Gov. Glenn Youngkin.

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