Mueller Water Products, Inc. has filed an 8-K with the SEC, detailing significant changes in its executive leadership. The filing, dated October 13, 2026, outlines the transition of its Chief Financial Officer, which is important for stakeholders and investors to understand the company's management dynamics.
Background on Mueller Water Products
Mueller Water Products, Inc. is a leading manufacturer of water infrastructure and flow control products. The company is based in Atlanta, Georgia, and is publicly traded on the New York Stock Exchange under the ticker symbol MWA. The Form 8-K is a current report used by publicly traded companies to disclose major events that shareholders should know about.
Details from the Filing
The filing states that Melissa Rasmussen will step down as the Senior Vice President and Chief Financial Officer effective on the first business day after the filing of the company's Annual Report on Form 10-K for the fiscal year ending September 30, 2026. The company clarified that her departure is not due to any disagreements related to financial statements or internal controls.
“Ms. Rasmussen’s transition and separation are not the result of any disagreement with the Company on any matter relating to the Company’s financial statements, internal control over financial reporting, operations, policies, or practices.”
In her place, Mike Morgan has been appointed as Executive Vice President, Finance, effective October 28, 2026. He will assume the role of Chief Financial Officer on the Transition Date.
Mike Morgan, age 56, has previously served as the Chief Financial Officer of IvyTree Holdings LLC since April 2025. He has also held various finance roles at Labcorp Holdings Inc. from March 2015 to April 2025.
Compensation Arrangements
The filing also details the financial arrangements related to both the outgoing and incoming CFOs. Melissa Rasmussen will serve as a Senior Advisor until December 31, 2026, and will continue to receive her current base salary during this period. Additionally, she will receive a retention payment of $431,897 and an annual bonus based on the company’s performance.
“Pursuant to the Transition Agreement, Ms. Rasmussen will continue to receive her current base salary through the end of the Transition Period.”
Mike Morgan's new role comes with an annual base salary of $575,000, an annual bonus opportunity of 80% of his base salary, and a long-term incentive opportunity of $1,300,000 starting in fiscal year 2027. He will also receive an initial equity award valued at $500,000 and a one-time cash sign-on bonus of $700,000.
Impact of the Transition
This leadership change may affect various stakeholders, including employees, investors, and customers. Employees may need to adapt to new leadership styles and strategies under Mike Morgan. Investors will be watching how this transition impacts the company's financial performance and strategic direction moving forward.
What's Next?
The filing does not specify what happens next regarding the company’s strategic initiatives or further leadership changes. Stakeholders will likely await the upcoming Annual Report on Form 10-K for more insights into the company's future plans.