Mueller Water Names Mike Morgan CFO as Melissa Rasmussen Steps Down
MWA is trading near its 52-week low of $20.896 (1.0% above the low).
Summary
Mueller Water Products announced a planned CFO transition: Melissa Rasmussen steps down after the FY2026 10-K filing, and Mike Morgan joins as EVP Finance on October 28, 2026, before assuming the CFO role. The company says the departure is not due to any disagreement.
Key Events · Executive and Board Changes · MWA
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CFO Transition Announced
Melissa Rasmussen will step down as CFO effective after the FY2026 10-K filing; Mike Morgan joins as EVP Finance on October 28, 2026, and assumes the CFO role after the annual report.
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No Disagreement Cited
The company states Rasmussen's departure is not the result of any disagreement on financial statements, internal controls, operations, policies, or practices.
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Incoming CFO Compensation
Morgan's package includes $575,000 base salary, 80% target bonus, $1.3M annual LTI target, $500,000 initial equity grant, $700,000 sign-on bonus, and $100,000 annual commuter benefit.
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Outgoing CFO Arrangements
Rasmussen receives a $431,897 retention payment, her FY2026 bonus based on actual performance, and standard severance benefits under the Executive Severance Plan.
Analysis · MWA · Manufacturing
A planned CFO transition is underway at Mueller Water Products. Melissa Rasmussen will step down after the FY2026 10-K is filed, and Mike Morgan — currently CFO of industrial firm Indicor — takes over as EVP Finance on October 28, 2026, then assumes the CFO role after the annual report. The company explicitly states the departure is not due to any disagreement over financial statements, controls, operations, or policies. Morgan's package is substantial: $575,000 base salary, 80% target bonus, a $1.3 million long-term incentive target, a $500,000 initial equity grant, a $700,000 sign-on bonus, and a $100,000 annual commuter benefit. Rasmussen receives a $431,897 retention payment plus her FY2026 bonus and standard severance. The transition is orderly and amicable, but a CFO change at a $3.4 billion industrial company always carries execution risk during the handoff of financial reporting responsibilities.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 31% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.01%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MWA was trading at $21.10 on NYSE in the Manufacturing sector, with a market capitalization of approximately $3.4B. The 52-week trading range was $20.90 to $31.00. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.