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.