Owens Corning Adds Freddie Mac Veteran to Board, Strengthening Housing Finance Expertise
Event summary
- Owens Corning elected Michael DeVito, former CEO of Freddie Mac, to its Board of Directors on September 16, 2026.
- DeVito will serve on the Audit Committee and the Finance and Technology Committee.
- He brings 40 years of experience in housing finance, risk management, and large-scale business transformation.
- DeVito previously led Freddie Mac and held senior roles at Wells Fargo, including Head of Home Lending.
The big picture
Owens Corning’s appointment of Michael DeVito reflects a strategic move to bolster its governance with housing finance expertise, critical as the company navigates residential market dynamics. DeVito’s background in large-scale business transformation and risk management aligns with Owens Corning’s focus on long-term growth and operational efficiency. His addition to the board underscores the company’s commitment to leveraging external insights to drive performance in a competitive building products sector.
What we're watching
- Housing Market Insight
- How DeVito’s deep housing finance expertise will influence Owens Corning’s strategic decisions amid fluctuating market conditions.
- Risk Management
- Whether DeVito’s focus on risk management at Freddie Mac will enhance Owens Corning’s operational resilience.
- Growth Strategy
- The pace at which DeVito’s leadership experience can accelerate Owens Corning’s growth initiatives in North America and Europe.