– USA, OH – Owens Corning (NYSE: OC) today announced that Executive Chairman of the Board of Directors Mike Thaman has decided to retire from the company as of the date of the Annual Meeting of Stockholders, currently scheduled in April 2020.
Brian Chambers, President and CEO, has been elected by the Board to succeed Mike Thaman as Chairman effective at the same time.
“It has been a privilege to be a part of Owens Corning for the past 27 years and to lead the Board for nearly 18 years. I couldn’t be prouder of this company and its 20,000 employees who are collectively focused on making the world a better place. I’m confident that the best days are ahead for Owens Corning and I’m excited for what Brian will contribute to the Board as Chairman,” Mr. Thaman said.
Mr. Chambers became CEO and was elected to the Board in April 2019. He has been with the company for over 15 years, and throughout his career, has held a number of senior operating roles across a range of businesses and geographies.
Mr. Chambers stated, “I am honored to be named Chairman of the Board for this remarkable company. I want to thank Mike for his tremendous passion and dedication to Owens Corning. His legacy of generating value for shareholders, creating sustainable solutions for our customers, and developing our employees will have a profound impact on the organization for years to come.”
John Williams, Lead Independent Director of Owens Corning’s Board of Directors, said, “On behalf of the Board of Directors, I want to thank Mike for his strong leadership and unwavering commitment to the long-term success of Owens Corning. During his tenure, he provided the strategic direction to build a more stable, resilient company better able to perform through the business cycle. We wish him the very best in his future endeavors.”
“The naming of Brian as Chairman is the completion of a comprehensive succession plan to select the best leader for the company and transition leadership of the Board. Brian has worked closely with the Board over the past several years in various roles, culminating with his role as CEO and our future Chairman. I look forward to partnering with Brian to lead the Board and guide the company into its next phase of growth,” Mr. Williams continued.
About Owens Corning
Owens Corning is a global leader in insulation, roofing, and fiberglass composite materials. Its insulation products conserve energy and improve acoustics, fire resistance, and air quality in the spaces where people live, work, and play. Its roofing products and systems enhance curb appeal and protect homes and commercial buildings alike. Its fiberglass composites make thousands of products lighter, stronger, and more durable. Owens Corning provides innovative products and solutions that deliver a material difference to its customers and, ultimately, make the world a better place. The business is global in scope, with operations in 33 countries. It is also human in scale, with 20,000 employees cultivating local and longstanding relationships with customers. Based in Toledo, Ohio, USA, the company posted 2018 sales of $7.1 billion. Founded in 1938, it has been a Fortune 500 company for 65 consecutive years.
For more information: https://www.owenscorning.com
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