Owens Corning Enhances Board with New Leadership
Owens Corning (NYSE: OC) is excited to announce the election of Michelle Collins as the latest addition to its Board of Directors. Her extensive experience in financial leadership and strategic guidance comes at a pivotal time for the company, as it aims to continue its trajectory of growth and innovation.
A Look at Michelle Collins' Impressive Background
Experience in the Financial Sector
Before joining the board, Michelle Collins served as the Vice Chair and Senior Audit Partner at Deloitte & Touche LLP, a prestigious position that provided her with unparalleled insights into the auditing and financial aspects of companies across various industries. Her tenure there spanned several decades, during which she gained invaluable knowledge while leading Deloitte’s largest global audit clients.
Contributions to the Automotive Sector
Her role as National Automotive Sector Leader and Senior Partner at Deloitte had her consulting with many large global automotive and manufacturing clients, cementing her reputation as a leading expert in the field. Furthermore, Collins’ strategic interventions and management principles will likely bring significant benefits as Owens Corning pursues its goals.
Transitioning Leadership on the Board
The announcement of Collins' appointment coincides with the news that W. Howard Morris will not stand for re-election during the forthcoming Annual Meeting of Stockholders. Morris has been a dedicated member of the Board since 2007, and his experience in finance has been instrumental in guiding the company’s strategic decisions throughout his tenure.
Appreciation for Morris’ Contributions
Brian Chambers, Chair and CEO of Owens Corning, expressed gratitude for Morris’ years of service, stating that his contributions have been invaluable to the company's development during his 17 years on the board. His extensive background in finance has undoubtedly shaped Owens Corning’s strategic choices and expansion efforts.
Board Composition and Future Directions
With Collins' election, the Board of Directors has voted to increase its size to 11 members temporarily. However, it is anticipated that the board size will revert to 10 members following the 2025 Annual Meeting of Stockholders. This strategic adjustment underscores the company's adaptability in dynamic market conditions while ensuring competent oversight of ongoing operations.
The Vision of Owens Corning
Owens Corning remains a leader in residential and commercial building products, aiming to foster a sustainable future through innovation in materials. Its diverse business divisions—Roofing, Insulation, Doors, and Composites—reflect a commitment to durability, energy efficiency, and sustainability, underscoring the company’s mission to empower customers through innovative solutions.
The company operates globally, engaging a workforce of over 25,000 employees across 31 countries, all dedicated to creating value for customers, shareholders, and the communities in which they operate. In the past year, Owens Corning reported impressive sales figures reaching $9.7 billion, demonstrating robust performance amid ever-changing market dynamics.
Frequently Asked Questions
Who is the newest member of the Owens Corning Board?
Michelle Collins has been elected to the Board of Directors of Owens Corning.
What roles has Michelle Collins held prior to joining the Board?
Before her appointment, Collins was the Vice Chair and Senior Audit Partner at Deloitte & Touche LLP.
Was there any change in the Board's size?
Yes, the Board of Directors increased its size to 11 members with Collins' election.
Who is stepping down from the Board?
W. Howard Morris announced that he will not stand for re-election and will step down after serving since 2007.
What is Owens Corning's core business focus?
Owens Corning focuses on sustainable building products, including roofing, insulation, doors, and composites.
