Mueller Water Products, Inc. (NYSE:MWA) has announced that its Board of Directors has appointed J. Scott Hall as its next president and chief executive officer, effective January 23, 2017. Mr. Hall joins the Company from Textron, Inc. where he most recently served as president and chief executive officer of its Industrial Segment. Mr. Hall, who will also become a Board member, succeeds current president and chief executive officer, Gregory E. Hyland, who will transition to the role of executive chairman.
“We are very pleased to have appointed Scott as CEO,” said Mr. Hyland. “With today’s announcement of the sale of our Anvil International division, Mueller Water Products is now a pure-play water infrastructure company that is well-positioned for continued growth, and we believe Scott is the ideal leader, at exactly the right time, to take our business into the future. Scott has a diverse industrial background and a track record of new product development and strategic acquisitions. He has significant experience in manufacturing, with a strong focus on Six Sigma and LEAN manufacturing, and one of his divisions earned the prestigious Shingo prize for operational excellence in 2009. We believe that with Scott’s unique expertise and the Board’s continued commitment to optimizing capital allocation, we will be able to continue to deliver value for our shareholders.”
Mr. Hall joined Textron in 2001 and has held numerous leadership positions, most recently as president and chief executive officer of Textron’s Industrial Segment, where he was responsible for $3.8 billion in revenue. Mr. Hall was a member of Textron’s Executive Leadership Team, and has also served as president and chief executive officer of Textron Tools and Test, where he focused on new product development and ways to compete with non-traditional players. Mr. Hall serves as a trustee on the Manufacturers Alliance/MAPI Board of Trustees and on the Board of Directors of the National Association of Manufacturers.
“Mueller Water Products is recognized as the leading brand in water infrastructure in North America, and I am pleased to be joining the Company at this important and exciting time in its history,” said Mr. Hall. “The Board and management team are executing a clear and compelling strategy, and the Company’s focus on helping municipalities operate more efficiently opens up numerous possibilities for both organic and inorganic growth. By building on the strong LEAN manufacturing culture that has been developed under Greg’s leadership, I believe that the Company can continue to generate industry-leading operating margins and return metrics.”
Mark J. O’Brien, the Company’s lead independent director, said: “On behalf of the entire Board, I thank Greg for his excellent leadership and dedication for over a decade. Greg achieved an excellent track record of growth and success, and we are pleased that he has agreed to assume the role of executive chairman and will work closely with Scott to effect this planned leadership transition in a seamless manner. We are very excited to have brought such a talented executive as Scott to the Company, and we look forward to working with him as we take the Company to its next phase of growth.”
Mr. Hyland has served as chairman, president and chief executive officer of Mueller Water Products since September 2005, leading its public spinoff from Walter Industries in May 2006. During his tenure, the Company has focused its strategy on water infrastructure while adapting to meet the evolving needs of its customers. Under Mr. Hyland’s leadership, the Company divested non-core assets and implemented LEAN Six Sigma processes throughout its manufacturing operations, enabling an improvement of efficiencies, safety and quality. The Company also reduced its debt by more than $1 billion over the past 10 years, becoming a financially stronger and more focused business.
In a separate press release, Mueller Water Products announced that it has sold its Anvil International division to One Equity Partners.