UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Michael McMurray, Senior Vice President and Chief Financial Officer (“CFO”) of Owens Corning (the “Company”), submitted his resignation to the Company on October 10, 2019, in order to pursue another professional opportunity. Mr. McMurray will continue as CFO through October 23, 2019.
On October 14, 2019, the Company announced that Prith Gandhi, age 49, will serve as Interim CFO upon Mr. McMurray’s departure. Mr. Gandhi has served as the Company’s Vice President of Corporate Strategy, Corporate Development, and Financial Planning since November 2014. He was hired by the Company in September 2013 as the Company’s Vice President of Corporate Strategy and Development. Mr. Gandhi has over 25 years of financial experience, including roles for Dover Corporation, Zebra Technologies Corporation and Morgan Stanley.
In connection with his appointment as Interim CFO, Mr. Gandhi will receive a cash retention bonus of $150,000 upon the hiring of a permanent CFO, and a supplemental equity grant of restricted stock units, to be granted in conjunction with his 2020 long-term incentive award, with a supplemental grant value of $200,000 and two-year graded vesting.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| OWENS CORNING | ||||||
| October 16, 2019 |
By: |
/s/ Ava Harter | ||||
| Ava Harter Senior Vice President, General Counsel and Secretary |