Management ChangeSep 16, 2026, 04:34 PM
Owens Corning Adds Michael J. DeVito to Board of Directors
AI Summary
Owens Corning announced an expansion of its Board of Directors from nine to ten members, with the election of Michael J. DeVito as a director, effective September 16, 2026. Mr. DeVito has been deemed independent and will serve on the Audit Committee and the Finance and Technology Committee. His extensive background includes serving as CEO of Freddie Mac and holding senior leadership positions at Wells Fargo's home lending business. He currently sits on the board of NVR, Inc. Mr. DeVito will participate in the standard compensation arrangements for non-management directors.
Key Highlights
- Owens Corning expanded its Board of Directors from nine to ten members.
- Michael J. DeVito was elected to serve as a director, effective September 16, 2026.
- Mr. DeVito was determined to be independent and meets NYSE and Company standards.
- He will join the Audit Committee and the Finance and Technology Committee.
- Mr. DeVito previously served as CEO of Freddie Mac from 2021 to 2024.
- He has 24 years of experience at Wells Fargo, most recently as EVP and Head of Home Lending.
- Mr. DeVito currently serves on the board of NVR, Inc.
Price Impact
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