ScottsMiracle-Gro Announces Results of Annual Shareholders' Meeting
MARYSVILLE, Ohio, Jan. 19, 2012 /PRNewswire-FirstCall/ -- Shareholders of The Scotts Miracle-Gro Company (SMG), the world's largest marketer of branded consumer lawn and garden products, today re-elected four members of the Company's Board of Directors, effective immediately, for three-year terms that expire in 2015.
Those board members elected this morning are Alan Barry, former President and COO of Masco Corporation; Tom Kelly, former EVP, Transition Integration of Sprint Nextel Corporation; Carl Kohrt, former President and CEO of Battelle Memorial Institute; and John Shiely, retired CEO and Chairman of the Board of Briggs & Stratton Corporation.
In his message at the Annual Shareholders' Meeting, Chairman and CEO Jim Hagedorn expressed confidence in the upcoming lawn and garden season and reaffirmed the Company's outlook to grow sales by at least 6 percent. He also discussed the Company's decision to increase its advertising investment for the upcoming season.
"We are making a step change in fiscal 2012 and setting a new benchmark for our advertising investment," Hagedorn told shareholders. "Both our Scotts and Miracle-Gro brands will be supported by completely new campaigns. While we will continue to support individual products in each commercial, we will do so with a consistent approach and message that creates a halo effect for the brands. I believe this is some of the best creative work we have done in years and I am confident it will impact our business not just in 2012 but over the longer-term as well."
Also at today's meeting, shareholders approved, on an advisory basis, the compensation of the Company's named executive officers and expressed their preference for holding future advisory votes on executive compensation every year. In addition, shareholders ratified the Audit Committee's selection of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending September 30, 2012.
An archive of the Company's 2012 Annual Shareholders' Meeting is available on the Investor Relations section of the ScottsMiracle-Gro Web site, http://investor.scotts.com.
With approximately $3 billion in worldwide sales, The Scotts Miracle-Gro Company, through its wholly-owned subsidiary, The Scotts Company LLC, is the world's largest marketer of branded consumer products for lawn and garden care. The Company's brands are the most recognized in the industry. In the U.S., the Company's Scotts®, Miracle-Gro® and Ortho® brands are market-leading in their categories, as is the consumer Roundup® brand, which is marketed in North America and most of Europe exclusively by Scotts and owned by Monsanto. In the U.S., we operate Scotts LawnService®, the second largest residential lawn care service business. In Europe, the Company's brands include Weedol®, Pathclear®, Evergreen®, Levington®, Miracle-Gro®, KB®, Fertiligene® and Substral®. For additional information, visit us at www.scotts.com.
SOURCE The Scotts Miracle-Gro Company