Mueller Water Products stock falls on CFO transition announcement

Mueller Water Products (NYSE:MWA) shares experienced a 2.8% decline in after-hours trading on Monday following the company's announcement of a chief financial officer transition. Michael Morgan will take on the role of Executive Vice President, Finance, effective October 28, and will assume the CFO position on or around November 19, following the submission of Mueller's Annual Report on Form 10-K for the fiscal year ending September 30.

Current CFO Melissa Rasmussen will remain in her role until the annual report filing and will continue as an advisor through December 31 to facilitate the transition. Morgan boasts over 30 years of financial and operating experience, having served as CFO at Indicor, a diversified industrial company, and holding leadership positions at Labcorp, The Timken Company, and PerkinElmer.

Rasmussen's departure is not attributed to any disagreement over financial statements, internal controls, operations, policies, or practices. Mueller Water Products specializes in manufacturing and marketing products and solutions for the transmission, distribution, and measurement of water in North America.

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