Mueller Water Products names Mike Morgan next CFO
Morgan’s offer includes a $575,000 annual base salary and a $700,000 sign-on bonus payable January 1, 2027.
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Rhea-AI Filing Summary
Mueller Water Products, Inc. (MWA) announced a planned CFO transition: Melissa Rasmussen will remain CFO through the filing of the fiscal 2026 Form 10-K, then serve as Senior Advisor through December 31, 2026. Mike Morgan, identified as Michael Morgan in the press release, becomes Executive Vice President, Finance on October 28, 2026, and is to assume the CFO role on the first business day after the 10-K filing; the release describes the timing as on or about November 19, 2026. The company said Rasmussen’s departure is not due to a disagreement.
Morgan’s offer provides an annual base salary of $575,000, a target annual bonus of 80% of base salary and, beginning in fiscal 2027, a target annual long-term incentive opportunity of $1,300,000. He will receive a $500,000 initial equity award, vesting in equal installments on the first and second anniversaries of his start date, a $700,000 cash sign-on bonus payable January 1, 2027, and an annual commuter benefit of $100,000. Rasmussen will continue receiving her current base salary through December 31; subject to signing and not revoking a release, she is eligible for a fiscal 2026 performance-based bonus, a $431,897 retention payment and severance under the Executive Severance Plan. Her equity awards remain eligible to vest during the Transition Period.
