Mueller Water Products nominates Bentina Chisolm Terry and Leland Weaver for Board election; two directors to retire in 2025.
Quiver AI Summary
Mueller Water Products, Inc. announced the nomination of Bentina Chisolm Terry and Leland Weaver to join its Board of Directors, with the election scheduled for the Annual Meeting of Stockholders on February 6, 2025. This nomination is part of the company's strategy to refresh its Board, during which two long-serving members, Dr. Lydia Thomas and Ms. Shirley Franklin, will retire. The Non-Executive Chair of the Board, Stephen C. Van Arsdell, expressed gratitude for the outgoing members’ contributions and highlighted the importance of integrating new perspectives into the Board. Following the meeting, the Board will consist of nine directors, with eight being independent. Bentina Chisolm Terry is the President and CEO of Southern Linc, and Leland Weaver is the President of DuPont Water & Protection, both bringing extensive experience and leadership skills to their new roles.
Potential Positives
- Announcement of new Board nominations signals a commitment to governance and strategic evolution within the company.
- Bentina Chisolm Terry and Leland Weaver bring extensive industry experience and leadership, enhancing the Board's capability to drive growth and innovation.
- The planned retirement of long-tenured directors as part of the board refreshment reflects a proactive approach to integrating fresh perspectives.
- The new board composition will consist of a majority of independent directors, promoting unbiased decision-making and reinforcing shareholder confidence.
Potential Negatives
- The retirement of two long-tenured directors may indicate a lack of stability or continuity in the leadership of the board, which could concern shareholders regarding strategic direction.
- The planned retirement and refreshment of the board may suggest a response to pressures from shareholders for change, potentially indicating prior dissatisfaction with current governance.
- With the majority of the board consisting of newly elected members within the last six years, there may be concerns about the lack of experience and long-term vision in the boardroom.
FAQ
Who are the newly nominated directors for Mueller Water Products?
The newly nominated directors are Bentina Chisolm Terry and Leland Weaver for election at the Annual Meeting on February 6, 2025.
Why are current directors retiring at the upcoming meeting?
Dr. Lydia Thomas and Ms. Shirley Franklin are retiring as part of the company's board refreshment plan.
What roles do the new directors hold currently?
Bentina Chisolm Terry is the President and CEO of Southern Linc, while Leland Weaver is the President of DuPont Water & Protection.
What is Mueller Water Products known for?
Mueller Water Products is a leading manufacturer of products used in water transmission, distribution, and measurement in North America.
How many directors will be on the board after the annual meeting?
After the annual meeting, the board will consist of nine directors, with eight being independent.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MWA Insider Trading Activity
$MWA insiders have traded $MWA stock on the open market 13 times in the past 6 months. Of those trades, 2 have been purchases and 11 have been sales.
Here’s a breakdown of recent trading of $MWA stock by insiders over the last 6 months:
- SUZANNE G SMITH (VP and CAO) sold 26,138 shares.
- TODD P HELMS (SVP and CHRO) has traded it 2 times. They made 0 purchases and 2 sales, selling 61,504 shares.
- STEVEN S HEINRICHS (EVP, CFO, CLO and CCO) sold 86,399 shares.
- LYDIA W THOMAS sold 10,791 shares.
- BRIAN C. HEALY has traded it 2 times. They made 2 purchases, buying 2,375 shares and 0 sales.
- THOMAS J HANSEN sold 10,791 shares.
- CHRISTINE ORTIZ sold 8,800 shares.
- J SCOTT HALL has traded it 4 times. They made 0 purchases and 4 sales, selling 377,858 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$MWA Hedge Fund Activity
We have seen 169 institutional investors add shares of $MWA stock to their portfolio, and 157 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- NUANCE INVESTMENTS, LLC removed 3,375,069 shares (-64.8%) from their portfolio in Q3 2024
- FULLER & THALER ASSET MANAGEMENT, INC. added 3,028,965 shares (+inf%) to their portfolio in Q3 2024
- ANCORA ADVISORS LLC removed 2,673,478 shares (-100.0%) from their portfolio in Q2 2024
- VICTORY CAPITAL MANAGEMENT INC removed 2,478,507 shares (-83.7%) from their portfolio in Q3 2024
- AMERIPRISE FINANCIAL INC added 1,366,463 shares (+314.9%) to their portfolio in Q3 2024
- MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. removed 1,092,423 shares (-100.0%) from their portfolio in Q2 2024
- ALLIANZ ASSET MANAGEMENT GMBH added 981,966 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Nominates Bentina Chisolm Terry and Leland Weaver to Join Board of Directors
Two Long-Tenured Directors to Retire at Upcoming 2025 Annual Meeting of Stockholders
ATLANTA, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Mueller Water Products, Inc. (NYSE: MWA) announced that its Board of Directors has nominated Bentina Chisolm Terry and Leland Weaver to join the Board for election at the Company’s Annual Meeting of Stockholders on February 6, 2025. As part of the previously announced Board refreshment plan, Dr. Lydia Thomas and Ms. Shirley Franklin will retire from the Board at the Annual Meeting.
“On behalf of the entire Board, I extend my gratitude to Lydia and Shirley for their contributions to Mueller and many years of service on the Board. Lydia’s and Shirley’s leadership, wisdom and expertise during their service have been enormously valuable to the Company and our management team as we have executed on our strategy to create value for shareholders. We also thank Brian Slobodow and Niclas Ytterdahl for their service,” said Stephen C. Van Arsdell, Non-Executive Chair of the Board.
Mr. Van Arsdell continued, “Today’s announcement reflects our strong governance as we continue to drive value creation across our business. The continuing evolution of the Board is a testament to our commitment to bringing new viewpoints to the boardroom while continuing to benefit from the guidance and experience of our more tenured directors. With the addition of Bentina and Leland, who most recently joined us as Board Observers, we are on course to complete our board refreshment plan next year. We are confident that each of our new directors will bring significant value to our diverse Board.”
The Board’s slate for the Annual Meeting is comprised of Christian A. Garcia, Thomas J. Hansen, Brian C. Healy, Christine Ortiz, Jeffery S. Sharritts, Bentina Chisolm Terry, Stephen C. Van Arsdell, Leland G. Weaver, and Marietta Edmunds Zakas. Following the Annual Meeting, the Board will comprise nine directors, eight of whom are independent and eight of whom will have been elected in the last six years.
About Bentina Chisolm Terry
Ms. Bentina Chisolm Terry currently serves as the President and CEO of Southern Linc and Southern Telecom, providing mission-critical LTE wireless and dark fiber networks and services to Southern Company electric utilities and external customers. She is an accomplished senior executive with more than 25 years of experience leading across a range of functions in the utility industry and a strong track record of driving growth and innovation. Prior to Southern Linc and Southern Telecom, Ms. Terry served as Senior Vice President of Customer Strategy and Solutions at Georgia Power. She joined Georgia Power in 2001, holding roles of increasing responsibility across multiple departments. Ms. Terry has led multiple environmental initiatives and has been responsible for health and safety. During her time serving as General Counsel for Southern Nuclear Operating Company, Ms. Terry led the Company to receiving the most significant rate increase in its history, ensuring continued service reliability and infrastructure upgrades. Ms. Terry received her Bachelor of Arts from North Carolina State University and a Juris Doctor from the University of Michigan.
About Leland Weaver
Mr. Leland Weaver currently serves as the President of DuPont Water & Protection. He is an accomplished senior executive with extensive experience across various industries and global markets. As President of the DuPont Water & Protection business, a global business with $6 billion in revenue, Mr. Weaver oversees 34 manufacturing sites and 7,000 employees, as well as the strategy to deliver sustainable, technology-based products and solutions for water, shelter, and safety. He previously held leadership roles within Dupont’s investor relations and business strategy arm. Mr. Weaver has deep experience in both operational and manufacturing as well as growth strategy and transformation, managing relationships with institutional investors, and playing a pivotal role in significant corporate transformation initiatives, including the spin-off of DuPont’s Nutrition & Biosciences business and its merger with International Flavors and Fragrances. Mr. Weaver has a strong track record of building high-performance teams, managing large-scale operations, and driving significant financial growth. Mr. Weaver received his Bachelor of Science from the University of Alabama and his master’s degree in business from the University of Pennsylvania.
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 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
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