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OWENS-CORNING ANNOUNCES STRATEGIC REORGANIZATION

 TOLEDO, Ohio, Jan. 3 /PRNewswire/ -- In a move to intensify its global growth agenda, significantly strengthen its commitment to customer satisfaction and continue leveraging a proactive organization that mirrors its business portfolio, Owens-Corning (NYSE: OCF) today announced a strategic reorganization, according to Glen H. Hiner, chairman and CEO.
 "Our new alignment," states Hiner, "reflects the vertical integration of our strategic business segments, which in turn, creates increased focus, greater P & L clarity and a distinctly improved opportunity for our empowered leaders to grow and contribute.
 "This new organizational alignment," he continues, "adds speed and simplicity to our entire decision-making process, thus increasing our competitive posture in the global marketplace."
 The new structure eliminates a layer of management, while creating 10 new strategic business segments and realigning five staff functions, all reporting to the chairman.
 The current Construction Products and Industrial Materials business organizations have been dissolved. The responsibilities associated with these organizations have been reassigned within the new structure.
 The strategic business segments and their leaders are as follows:
 ASIA/PACIFIC
 Charles R. Bland, Vice President,
 President, Asia/Pacific
 INSULATION -- AMERICAS
 Alan D. Booth, Vice President,
 President, Insulation -- Americas
 ROOFING/ASPHALT
 David T. Brown, Vice President,
 President, Roofing/Asphalt
 VENTURE BUSINESSES
 Paula H. J. Cholmondeley, Vice President,
 President, Venture Businesses
 RETAIL/DISTRIBUTION
 Carl B. Hedlund, Vice President,
 President, Retail/Distribution
 INSULATION -- EUROPE
 Warren D. Knowlton, Vice President,
 President, Insulation -- Europe
 SOUTH AMERICA
 Scott K. Koepke, Vice President,
 President, South America
 WINDOWS
 Robert C. Lonergan, Vice President,
 President, Windows
 PIPE
 Patrick F. Moore, Vice President,
 President, Pipe
 COMPOSITES
 Efthimios O. Vidalis, Vice President,
 President, Composites
 A new executive vice president's position has been established with responsibility for business development, strategic planning, global sourcing and P & L responsibility for transitional business segments. Charles H. Dana, formerly president of the Industrial Materials Business, will head this area.
 The corporate staff segments and leaders are as follows:
 LEGAL
 William W. Colville, Senior Vice President and
 General Counsel
 FINANCE
 David W. Devonshire, Senior Vice President and CFO
 HUMAN RESOURCES
 Robert D. Heddens, Senior Vice President
 SCIENCE & TECHNOLOGY
 Sharell L. Mikesell, Vice President
 CORPORATE RELATIONS
 Bradford C. Oelman, Vice President
 Larry Solari, former president of the Construction Product Business, will serve as a consultant to the CEO, concentrating on organizational transition issues.
 From a financial reporting perspective, results will be grouped into three areas: Composites, Building Materials and Licensees, and Affiliates.
 "Fundamentally, our new, strategic alignment underscores our core values of Customer Satisfaction, Individual Dignity and Shareholder Value, while adding speed, simplicity and a more competitive posture to our global business," concluded Hiner.
 -0- 1/3/94
 /CONTACT: Elizabeth Sudheimer, 419-248-6190, or Bradford Oelman, 419-248-8220, both of Owens-Corning/
 (OCF)


CO: Owens-Corning ST: Ohio IN: CST SU: PER

BM -- CL016 -- 8531 01/03/94 13:43 EST
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Publication:PR Newswire
Date:Jan 3, 1994
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