The information solutions firm Reed Elsevier has appointed Duncan Palmer as its new CFO. Palmer will succeed Mark Armour, who is retiring at the end of 2012.

Palmer joins the company from Owens Corning, where he has been CFO for the past five years. Before this, he worked in a number of senior finance roles for Royal Dutch Shell in the UK, the Netherlands and the US. He also serves as a non-executive director of Oshkosh Corporation.

Palmer will join the company as CFO designate by the end of this month and will take the role fully in November.

Erik Engstrom, CEO of Reed Elsevier, said:

I am delighted to have Duncan join our team. His enormous breadth of global business experience, gained while living in our three largest office locations, makes him uniquely qualified for the CFO role at Reed Elsevier.

Anthony Habgood, chairman of Reed Elsevier, said:

Mark Armour has been a cornerstone of the development of Reed Elsevier over his 16 years as CFO. I would like to thank him for his outstanding service and wish him every good fortune on retirement. On behalf of the Reed Elsevier Boards, I would also like to welcome Duncan as our incoming CFO. He will be a crucial member of Erik’s team taking Reed Elsevier forward.

Palmer will be appointed to the boards of Reed Elsevier PLC and Reed Elsevier Group plc, effective 25 September, and to the board of Reed Elsevier NV.