Hoffmann Family of Companies (“HF Companies”), the U.S.-based, family-owned firm and owner of the Pittsburgh Penguins, today named Ted Towne the team’s new Chief Financial Officer.
Towne joins the Penguins from Major League Baseball’s Washington Nationals, where he spent nearly two decades and most recently served as Chief Financial Officer. In that role, he oversaw the club’s financial planning, analysis and operational strategy, while serving as an advisor to ownership and the Board of Directors. In 2025, he also took on interim Chief Revenue Officer and Chief Marketing Officer responsibilities, which expanded his oversight to 12 operating departments, including business strategy and analytics.
Towne played a key role in negotiating a landmark 20-year lease extension for Nationals Park in 2025, marking the single-largest investment the District of Columbia has made in any one facility. He was also instrumental in securing significant revenue agreements for the Nationals, including a long-term concessions agreement with Levy Restaurants and a new retail partnership with Fanatics. Most recently, Towne led the Nationals’ migration to a new enterprise resource planning platform and a modernized procure-to-pay process.
From 2014 to 2022, Towne served as Assistant General Manager and Vice President, Finance, a role Nationals ownership created to bring financial discipline to baseball operations. He supported player acquisition and contract negotiations and contributed to the club’s 2019 World Series championship. He also led the Nationals’ winning bid to host the 2015 NHL Winter Classic at Nationals Park, supported the 2018 MLB All-Star Week and oversaw the on-time, on-budget build-out of the club’s spring training facility in West Palm Beach, Fla.
Towne began his career at PricewaterhouseCoopers, Forrester Construction Company and Lerner Enterprises. He previously served on the Alumni Advisory Board of Maryland’s Sports Management Program and taught as an adjunct professor at Georgetown University.
“Ted has spent nearly two decades building the financial foundation of a championship organization, and he knows how to turn complex deals into lasting value for a team and its fans,” said Geoff Hoffmann, Chairman and Team Governor. “His blend of finance, operations and revenue experience makes him the right leader to help us invest in the Penguins’ future and deliver for our fans and Pittsburgh.”
“I’m honored to join the Penguins at such an exciting time,” said Towne. “The Hoffmann family has shown a real commitment to this team and the city of Pittsburgh. I look forward to working alongside Geoff, Marcel and the entire organization as we build a financial foundation that supports and ensures the Penguins’ success both on and off the ice, as well as in our community.”
Towne’s appointment follows the recent hiring of Marcel Braithwaite as President of Business Operations. Braithwaite joined the Penguins from the Houston Astros, one of Major League Baseball’s premier franchises.
About Hoffmann Family of Companies
Hoffmann Family of Companies is a multi-vertical, family-owned private equity firm consisting of over 200 global brands and employs 28,000 employees with businesses located in 30 countries and 600 locations around the world. Hoffmann Family of Companies’ verticals include Agriculture, Aviation & Transportation, Financial & Professional Services, Hospitality & Entertainment, Manufacturing, Marine, Media & Marketing and Real Estate. For more information, visit HFCompanies.com.
