Mueller Parent Revamps Management
Walter Industries, Inc. announced the following management changes to further clarify the future leadership of Walter Industries after the planned spin-off of Mueller Water Products, which is expected to take place before the end of 2006. Victor Patrick has been named vice chairman of Walter Industries. Patrick has been senior vice president-general counsel and will also retain the general counsel role going forward. He will continue to report to Chairman and CEO Gregory Hyland. William Ohrt, executive vice president and CFO of the company, has elected to retire, effective Aug. 15. Joseph Troy will assume the role of executive vice president and CFO of Walter Industries. Troy has been senior vice president-financial services and president of Mid-State Homes, part of Walter's Homebuilding and Financing Group. He led the acquisition and subsequent initial public offering of Mueller Water Products.
As previously announced, Mike Tokarz, currently a member of the Board of Directors, will assume the role of non-executive chairman of the company after the Mueller Water spin-off.
Walter Industries Inc. is a diversified company with consolidated annual revenues of approximately $3.1 billion.
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