Key Highlights

• Nathan Baxter assumes the CEO role with a $1,100,000 base salary and a 150% target incentive.

• Long‑term incentive plan targets $5,250,000 and includes a $2,000,000 restricted stock unit grant.

Scotts Miracle‑Gro (NYSE: SMG) disclosed a senior leadership transition, naming Nathan E. Baxter as the company's President and Chief Executive Officer, with the appointment taking effect on June 26, 2026. The change aligns with a broader succession strategy approved by the board and coincides with Baxter’s election to the board of directors.

Executive Background

Baxter, now 53, has been a key member of SMG’s senior management team, holding various operational and technology‑focused roles over recent years. His experience includes directing technology and operations functions and leading a semiconductor equipment enterprise, Tokyo Electron U.S. Holdings, prior to joining SMG.

This blend of operational expertise and technology insight is intended to support SMG’s growth initiatives in the lawn‑care and garden market.

Compensation Structure

The board set a fixed annual base salary of $1,100,000 for Baxter. His incentive plan targets a payout equal to 150 % of the base salary, reflecting performance‑based rewards. Under the company’s Long‑Term Incentive Plan, he is eligible for a target award of $5,250,000 for the upcoming fiscal year.

In addition, Baxter will receive a restricted stock unit grant valued at $2,000,000, designed to align his equity interests with the company’s long‑term objectives.

Board Realignment

James Hagedorn, who has guided SMG since 2001 and chaired the board from 2003, stepped down from both positions. Peter Shumlin, the Lead Independent Director, was appointed as the new chairman of the board. Concurrently, Director Nick Miaritis, who recently joined as Executive Vice President and Chief Brand Officer, also resigned from the board.

Separation Terms for Former CEO

Pursuant to a settlement dated December 11, 2013, Hagedorn will receive a total of $17,400,000 in severance payments, which will be dispersed over a twelve‑month period and adjusted for accrued pension benefits. An additional $500,000 is earmarked for services connected to an aircraft owned by Hagedorn, while $150,000 is allocated for administrative support functions. Furthermore, the agreement provides $3,600,000 to be paid across three years for post‑employment covenants, including non‑competition and non‑solicitation obligations.

Industry Context and Reporting

The leadership shift occurs as the lawn‑care and garden industry navigates supply‑chain pressures and heightened consumer focus on sustainability. SMG’s board indicated that Baxter’s background in technology and operations positions the company to capitalize on emerging trends such as digital agronomy tools and eco‑friendly product lines.

Documentation and Disclosure

These filings were submitted on July 1, 2026, satisfying the requisite regulatory disclosures.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.