The external-kink stability of a toroidal plasma surrounded by a rigid resistive wall is investigated. The well-known analysis of Haney and Freidberg is rigorously extended to allow for a wall that is sufficiently thick that the thin-shell approximation does not necessarily hold. A generalized Haney–Freidberg formula for the growth-rate of the resistive wall mode is obtained. Thick-wall effects do not change the marginal stability point of the mode but introduce an interesting asymmetry between growing and decaying modes. Growing modes have growth-rates that exceed those predicted by the original Haney–Freidberg formula. On the other hand, decaying modes have decay-rates that are less than those predicted by the original formula. The well-known Hu–Betti formula for the rotational stabilization of the resistive wall mode is also generalized to take thick-wall effects into account. Increasing wall thickness facilitates the rotational stabilization of the mode, because it decreases the critical toroidal electromagnetic torque that the wall must exert on the plasma. On the other hand, the real frequency of the mode at the marginal stability point increases with increasing wall thickness.