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Owens Corning

10/14/2019 | Press release | Distributed by Public on 10/14/2019 04:43

Owens Corning Announces CFO Transition

TOLEDO, Ohio--(BUSINESS WIRE)-- Owens Corning (NYSE: OC) today announced that Michael McMurray, Chief Financial Officer, will be stepping down from his role to pursue another professional opportunity. Mr. McMurray will continue as CFO through October 23, 2019, following the company's third-quarter 2019 earnings announcement and associated Securities and Exchange Commission Form 10-Q filing.

Prith Gandhi, currently Vice President of Corporate Strategy, Corporate Development, and Financial Planning, will serve as interim CFO while the company conducts an external search.

'I want to thank Michael for his many contributions during his 11-year career at Owens Corning,' stated Chief Executive Officer Brian Chambers. 'As a member of our Executive Committee, Michael has played an important role in driving the success of our company. Through his leadership, we have built a talented and experienced finance team who will continue to deliver on our key business priorities.'

'I am proud to have been a part of such a great company and talented finance organization,' Mr. McMurray said. 'Owens Corning has a strong future and I look forward to watching the company's success for years to come.'

'We are pleased to have Prith serve as interim CFO,' said Mr. Chambers. 'With his deep financial expertise and tremendous knowledge of our company, we expect a smooth CFO transition as we continue to focus on servicing our customers and delivering strong returns to our investors.'

Mr. Gandhi has more than 25 years of financial experience and has a proven track record for leading organizations. Prior to joining Owens Corning, he worked in various financial roles for Dover Corporation and Zebra Technologies Corporation. Mr. Gandhi also spent 11 years with Morgan Stanley in mergers and acquisitions, and proprietary trading. He earned his bachelor of science in mathematics and economics from the University of California at Berkeley, his master of arts in international economics from Georgetown University, and his MBA in accounting and finance from the Wharton School of Business at the University of Pennsylvania.

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, please visit www.owenscorning.com.

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Source: Owens Corning