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ScottsMiracle-Gro Announces Strategic Leadership Succession

SMG
  • The Scotts Miracle-Gro Company (NYSE: SMG) appointed Nate Baxter as president and CEO effective June 29, 2026, while Baxter joined the Board of Directors.
  • Independent Lead Director Pete Shumlin was elected as chairman of the Board to succeed Jim Hagedorn.
  • Hagedorn, who served as CEO since 2001 & chairman since 2003, is stepping down after a nearly 40-year career that grew annual revenue from $732 million in 1995 to $3.3 billion in fiscal 2025.
  • Baxter, 53, previously served as executive vice president of technology & operations (2023), COO (2023), & president & COO (2024), & is credited as the architect of the SMG 2.0 growth strategy.
  • The leadership transition aligns with a succession plan established in 2023 when Baxter joined the company.
  • Fiscal 2026 guidance includes U.S. consumer net sales low single-digit growth, non-GAAP adjusted gross margin of at least 32%, & non-GAAP adjusted net income per share of $4.15 to $4.35.
  • The company projects free cash flow of approximately $275 million for fiscal 2026, which will drive the leverage ratio down to the high 3s.
  • The company reaffirmed its fiscal 2026 outlook for non-GAAP adjusted EBITDA mid single-digit growth.
  • The 2026 Investor Day is scheduled for August 4, 2026, at the New York Stock Exchange to discuss mid- to long-term strategic priorities.
  • Baxter brings prior experience as president of TEL U.S. & worked with Intel Corporation before joining Scotts Miracle-Gro.
  • Shumlin, 70, has served on the Board since 2017 & as lead independent director since 2023.