The Scotts Miracle-Gro Company (NYSE: SMG) announced that its board of directors has appointed Nate Baxter as president and chief executive officer, effective immediately, replacing Jim Hagedorn, who held the CEO role since 2001.

Baxter, 53, joined ScottsMiracle-Gro in April 2023 as executive vice president of technology and operations, was named chief operating officer in September 2023, and expanded to president and COO in 2024. Before joining the company, he served as president of TEL U.S., a subsidiary of Tokyo Electron Ltd., and previously held roles at Intel Corporation. Baxter has also joined the board of directors.

The board elected Pete Shumlin, 70, previously the lead independent director, as chairman of the board. Shumlin is a former three-term governor of Vermont and has been a board member since 2017.

Hagedorn, 70, completed nearly 40 years with the company. He led the 1995 merger between Miracle-Gro, founded by his father Horace in 1951, and The Scotts Company. During his tenure, annual revenue grew from $732 million following the merger to $3.3 billion in fiscal 2025.

The company stated that the succession plan framework was established by the board when Baxter joined in 2023.

In connection with the leadership change, ScottsMiracle-Gro reaffirmed its fiscal 2026 guidance, which includes U.S. Consumer net sales growth in the low single digits, a non-GAAP adjusted gross margin of at least 32%, non-GAAP adjusted net income per share from continuing operations of $4.15 to $4.35, non-GAAP adjusted EBITDA growth in the mid single digits, and free cash flow of approximately $275 million.

The company also said it will hold its 2026 Investor Day at the New York Stock Exchange on Aug. 4, 2026, beginning at 9 a.m. ET, where management will discuss mid- to long-term strategic priorities and financial goals.