David J. Lyon Resigns from the Owens Corning Board of Directors
June 18 2009 - 5:05PM
PR Newswire (US)
TOLEDO, Ohio, June 18 /PRNewswire-FirstCall/ -- Owens Corning
(NYSE:OC) announced today the resignation of David J. Lyon from the
company's board of directors effective June 17, 2009. Mr. Lyon is a
vice president of the D. E. Shaw group. Mr. Lyon was one of two
directors designated to represent bond holders of Owens Corning's
predecessor company in connection with its emergence from
asbestos-related Chapter 11 bankruptcy in October 2006. That
bond-holder group was led by the D. E. Shaw group. After two and
one-half years, the firm's holdings have been reduced to less than
10 percent of Owens Corning's outstanding common stock, so Mr. Lyon
determined his resignation was appropriate. "We appreciate David's
leadership on the board of directors," said Mike Thaman, chairman
and chief executive officer. "We are grateful for the many
contributions he made to our company and the unique perspective he
provided. We wish him continued success." Given the current size of
the board of directors and the rich experience and diverse
backgrounds of the remaining board members, Mr. Lyon will not be
replaced. The size of the Owens Corning board of directors is
reduced to 14. About Owens Corning Owens Corning is a leading
global producer of residential and commercial building materials,
glass fiber reinforcements and engineered materials for composite
systems. A Fortune 500 company for 55 consecutive years, Owens
Corning is committed to driving sustainability through delivering
solutions, transforming markets and enhancing lives. Founded in
1938, Owens Corning is a market-leading innovator of glass-fiber
technology with sales of $6 billion in 2008 and about 16,500
employees in 30 countries. Additional information is available at
http://www.owenscorning.com/. DATASOURCE: Owens Corning CONTACT:
Investor & Media, Scott Deitz of Owens Corning, +1-419-248-8935
Web Site: http://www.owenscorning.com/
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