Mueller Water Products Announces CFO Succession Plan

Rhea-AI Summary

Mueller Water Products (NYSE: MWA) announced a CFO succession plan, with Steve Heinrichs transitioning from his role as Chief Financial Officer and Chief Legal and Compliance Officer by December 31, 2024. The company has initiated a search for a new CFO with a leading executive search firm. Heinrichs will remain as CFO until a successor is named and will be available as a consultant until September 30, 2025, to ensure a smooth transition.

CEO Martie Edmunds Zakas praised Heinrichs' contributions over the past six years. Chason A. Carroll was previously appointed as General Counsel in August 2023. Heinrichs expressed pride in the company's operational and financial improvements during his tenure.

Positive

• Planned and organized CFO succession process
• Retention of current CFO until successor is found
• Extended consulting arrangement with outgoing CFO for smooth transition
• CEO's acknowledgment of CFO's significant contributions

Negative

• Departure of experienced CFO and Chief Legal and Compliance Officer

ATLANTA, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Mueller Water Products, Inc. (NYSE: MWA) announced that Steven (“Steve”) S. Heinrichs will be transitioning from his position as Chief Financial Officer and Chief Legal and Compliance Officer effective December 31, 2024. The Company also announced today it has initiated a comprehensive process with a leading executive search firm to identify a new Chief Financial Officer.

Mr. Heinrichs will continue to serve as Chief Financial Officer and Chief Legal and Compliance Officer until a new CFO has been named and will remain available to the Company on a consulting basis until September 30, 2025, to help ensure a smooth transition. Mueller previously appointed Chason A. Carroll to the position of General Counsel in August 2023.

“Over the past six years, Steve has significantly contributed to Mueller’s success and has been a valued member of the leadership team. I am grateful for his support through this transition, and we wish him the very best in his future endeavors,” said Martie Edmunds Zakas, Chief Executive Officer of Mueller Water Products.

Mr. Heinrichs added, “I am proud of what we have accomplished, especially Mueller’s significant operational and financial improvements. We have developed dedicated and talented teams, and I look forward to Mueller’s continued success and future growth.”

About Mueller Water Products, Inc.

Mueller Water Products, Inc. is a leading manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. Our broad product and service portfolio includes engineered valves, fire hydrants, pipe connection and repair products, metering products, leak detection, pipe condition assessment, pressure management products, and software technology that provides critical water system data. We help municipalities increase operational efficiencies, improve customer service and prioritize capital spending, demonstrating why Mueller Water Products is Where Intelligence Meets Infrastructure^®. Visit us at www.muellerwaterproducts.com.

Mueller refers to one or more of Mueller Water Products, Inc. (MWP), a Delaware corporation, and its subsidiaries. MWP and each of its subsidiaries are legally separate and independent entities when providing products and services. MWP does not provide products or services to third parties. MWP and each of its subsidiaries are liable only for their own acts and omissions and not those of each other.

Investor Relations Contact: Whit Kincaid
770-206-4116
wkincaid@muellerwp.com

Media Contact: Jenny Barabas
470-806-5771
jbarabas@muellerwp.com

FAQ

When will Steve Heinrichs leave his position as CFO at Mueller Water Products (MWA)?

Steve Heinrichs will transition from his position as CFO and Chief Legal and Compliance Officer at Mueller Water Products (MWA) effective December 31, 2024.

Has Mueller Water Products (MWA) started searching for a new CFO?

Yes, Mueller Water Products (MWA) has initiated a comprehensive process with a leading executive search firm to identify a new Chief Financial Officer.

How long will Steve Heinrichs be available as a consultant for Mueller Water Products (MWA)?

Steve Heinrichs will remain available to Mueller Water Products (MWA) on a consulting basis until September 30, 2025, to help ensure a smooth transition.

Who is the current CEO of Mueller Water Products (MWA)?

The current CEO of Mueller Water Products (MWA) is Martie Edmunds Zakas.