Owens Corning Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Owens Corning on June 14, 2012. The report addresses corporate governance changes, specifically the election of a new director to the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel and governance matters.
Material Changes
The Board of Directors took the following actions effective September 12, 2012:
- Increased the size of the Board by one member.
- Elected Suzanne P. Nimocks as a new director to fill the vacancy.
- Ms. Nimocks will serve in Class III for a term expiring at the 2015 Annual Meeting of Stockholders.
Guidance, Outlook, and Management Commentary
Ms. Nimocks recently retired as a Director (senior partner) with McKinsey & Company. She will serve on the Compensation Committee and the Governance and Nominating Committee. There are no related person transactions involving Ms. Nimocks reportable under Item 404(a) of Regulation S-K. Her compensation will align with the non-employee director arrangements in effect at the time of her service, as described in the Company's 2012 proxy statement.
Key Facts for Investor Verification
- Effective date of the new director appointment is September 12, 2012.
- Ms. Nimocks' term expires at the 2015 Annual Meeting of Stockholders.
- Ms. Nimocks will serve on the Compensation and Governance and Nominating Committees.
- No special compensatory arrangements or related person transactions were disclosed for this appointment.