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.