By Connor Hart
Scotts Miracle-Gro named Nate Baxter as its chief executive, effective immediately, succeeding Jim Hagedorn and formalizing a succession plan that has been years in the making.
Baxter joined the lawn-and-garden company in 2023, and since then has overseen the implementation of its latest growth strategy centered around category growth, channel expansion and product innovation, Scotts said Monday.
He has also spearheaded the implementation of technology, automation, data analytics and artificial intelligence throughout the business, delivering operational and cost efficiencies, the company added.
Baxter, who is 53 years old, succeeds Hagedorn, who completed a nearly 40-year career with Scotts, having held various sales, operations and management roles before becoming CEO in 2001 and chairman in 2003.
Baxter will additionally serve as president and has joined the Scotts board of directors. The board elected independent lead director Pete Shumlin to serve as chairman.
The framework of the succession plan was established by the board upon Baxter joining Scotts in 2023, the company said.
Looking ahead, Scotts reaffirmed its outlook for the current fiscal year, guiding for adjusted earnings from continuing operations of $4.15 to $4.35 a share. U.S. customer net sales are projected to grow in the low single digits.
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