8-K

               SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C.  20549
                      ____________________

                            FORM 8-K

                         CURRENT REPORT
               Pursuant to Section 13 or 15(d) of
               the Securities Exchange Act of 1934


 Date of Report (Date of earliest event reported): March 27,
                              2003

                      OWENS-ILLINOIS, INC.

       (Exact Name of Registrant as Specified in Charter)

      Delaware               1-9576              22-2781933
  _______________       _______________        _______________

  (State or Other         (Commission         (I.R.S. Employer
  Jurisdiction of         File Number)       Identification No.)
   Incorporation)

                             One SeaGate
                         Toledo, Ohio  43666

            (Address of Principal Executive Offices)
                      ____________________

                          (419) 247-5000

      (Registrant's telephone number, including area code)

                      ____________________

ITEM 5.   OTHER MATTERS

          On March 27, 2003, Owens-Illinois, Inc., announced that
          the  board  of directors has elected Thomas  L.  Young,
          executive  vice  president, to the  position  of  chief
          financial officer.  Attached as Exhibit 99 is a  copy
          of the press release dated March 27, 2003.

                           SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.



Date:  March 27, 2003              OWENS-ILLINOIS, INC.
                                   (registrant)


                                   By:  /s/ Edward C. White
                                   ------------------------
                                   Name: Edward C. White
                                   Its: Vice President and
                                        Controller
                          Exhibit Index


Exhibit 99 - Press Release dated March 27, 2003 of Owens-Illinois, Inc.

EX-99

                                                           Exhibit 99

Owens-Illinois Names Thomas L. Young CFO

Toledo, Ohio, March 27, 2003 -- Owens-Illinois, Inc., (NYSE: OI) today
announced that the board of directors has elected Thomas L. Young,
executive vice president, to the position of chief financial officer,
succeeding R. Scott Trumbull, whose retirement was previously announced.

Mr. Young, 59, has served as executive vice president - administration and
general counsel since 1993.  He has also served as a member of the company's
board of directors since 1998.  Mr. Young joined the legal department of
Owens-Illinois in 1976.  He was appointed assistant general counsel -
general legal in 1983.  In 1988, he was named general counsel of operations
and was elected a vice president of the company.  He was appointed general
counsel and secretary of the company in 1990.  The transition of Mr. Young's
responsibilities as executive vice president - administration and general
counsel will be announced at a later date.

A native of Los Angeles, Mr. Young received a bachelor of arts degree from
St. John's College in 1966.  He served in the U.S. Army from 1966 to 1969,
attaining the rank of first lieutenant.  Mr. Young received a doctor of
jurisprudence with honors from the University of Notre Dame in 1972.
In 1985, he completed the Advanced Management Program at Harvard Business
School.

Mr. Young is a member of the board of directors of Manor Care, Inc., where
he serves as Chairman of the audit committee, and a member of the compensation
and governance committees.  He is also a director of the Rocky Mountain Bottle
Company and the General Chemical (Soda Ash) Partners.  In addition, he is a
trustee of the G.M.P. (Glass, Molders, Pottery, Plastics & Allied Workers
International Union) Employers Retirement Trust.

Joseph H. Lemieux, Owens-Illinois chairman and chief executive officer, said,
"We are delighted to have a seasoned executive like Tom Young assume the role
of CFO.  His in-depth knowledge of our goals and objectives, extensive
experience and proven ability to handle complex issues make him an ideal
candidate for this position."

Owens-Illinois is the largest manufacturer of glass containers in North America,
South America, Australia and New Zealand, and one of the largest in Europe.
O-I also is a worldwide manufacturer of plastics packaging with operations in
North America, South America, Europe, Australia and New Zealand.  Plastics
packaging products manufactured by O-I include consumer products (blow molded
containers, injection molded closures and dispensing systems) and prescription
containers.

Copies of Owens-Illinois news releases are available at the Owens-Illinois web
site at http://www.o-i.com or at www.prnewswire.com.