Owens Corning names new CFO

Owens Corning has named Michael McMurray as senior VP and chief financial officer, effective immediately, to replace Duncan Palmer, who is leaving the company to join Reed Elsevier, a U.K.-based company.

McMurray, 47, joined Owens Corning in 2008 as VP and treasurer. His most recent position was VP finance leader of the company's $3.5 billion building materials group. Prior to joining the Owens Corning, McMurray was finance manager of America’s Lubricants for Royal Dutch Shell.

Based in Toledo, Ohio, Owens Corning is a global producer of residential and commercial building materials that include insulation, roofing, acoustical systems and other products.