Owens Corning (NYSE: OC) today announced that Chief Financial Officer Ken Parks will be stepping down from his role effective September 15 to pursue another professional opportunity.
Todd Fister, who has served as President of the company’s global Insulation business since 2019, will succeed Mr. Parks as CFO, effective September 15.
“I want to thank Ken for his contributions to our company over the past three years,” said Chair and Chief Executive Officer Brian Chambers. “Under Ken’s leadership, we have strengthened the capability of our global finance team and consistently delivered our financial targets as we bring our enterprise strategy to life.”
“I’ve worked closely with Todd over the past several years and am excited to welcome him to the CFO role.” Mr. Chambers added, “Todd brings a broad set of financial, operational, and strategic experiences and capabilities to the new role, along with invaluable customer perspective, that will be critical as we continue to accelerate our growth and expand the earnings power of our company.”
Mr. Fister is a proven business leader bringing 27 years of global experience at Fortune 500 companies spanning the building materials, consumer products, and packaging industries. Since 2019, Mr. Fister has served as president of the $3.7 billion Insulation segment, leading a global team of approximately 8,000 employees, and as a member of the company’s Executive Committee. Under his leadership, the business has grown revenue by 30 percent and more than doubled EBIT. Mr. Fister was also instrumental in developing the company’s enterprise strategy launched in 2021.
Before his appointment as Insulation president, he served as both Vice President of Global Insulation and Strategy, and Managing Director, Global Foamglas and Europe Insulation, based in Belgium. He also led over $1.5 billion in M&A activity from evaluation to negotiation and integration.
Prior to joining Owens Corning in 2014, Mr. Fister spent seven years at MeadWestvaco, now WestRock, in roles of increasing responsibility across finance, corporate development, and strategy. He also worked at Kimberly-Clark, and began his career in finance at Procter & Gamble.
Details on Mr. Fister’s successor as Insulation president will be forthcoming soon.
About Owens Corning
Owens Corning is a global building and construction materials leader committed to building a sustainable future through material innovation. Our three integrated businesses – Composites, Insulation, and Roofing – provide durable, sustainable, energy-efficient solutions that leverage our unique material science, manufacturing, and market knowledge to help our customers win and grow. We are global in scope, human in scale with approximately 19,000 employees in 31 countries dedicated to generating value for our customers and shareholders and making a difference in the communities where we work and live. Founded in 1938 and based in Toledo, Ohio, USA, Owens Corning posted 2022 sales of $9.8 billion. For more information, visit www.owenscorning.com.
Owens Corning Company News / Owens Corning Investor Relations News