MARYSVILLE, Ohio - The Scotts Miracle-Gro Company (NYSE: SMG), announced April 17 that its board of directors has named Randy Coleman as executive vice president and chief financial officer.Coleman replaces Larry Hilsheimer, who has left the Company effective immediately and is pursuing other opportunities, according to a news release from the company.
"I have worked with Randy for more that a decade and consider him one of our very best leaders," said Jim Hagedorn, chairman and chief executive officer. "He is an exceptional finance executive who has great instincts and a bias for action. He has the support of the entire management team because we know his engaged approach to managing the business fits well with our culture and our constant drive to improve."
Hagedorn said the appointment of Coleman was not a reflection of any concerns related to the vompany's financial controls or business performance. The company will report its fiscal second quarter results after market on Monday, May 5, at which time it expects to report results in line with its internal expectations, allowing it to re-affirm its outlook for the full year.
"Larry (Hilsheimer) brought good insights to the organization and we appreciate his contributions," Hagedorn said. "But as we have refined our strategic plan over the past year, our needs have changed, which is why we recognized that Randy is a better fit for our new direction. We wish Larry continued success going forward."
Coleman, 45, was most recently senior vice president of operating finance as well as enterprise performance analytics. He joined ScottsMiracle-Gro in 1999. He started as assistant controller of the Ortho business unit. He later acted as director of financial planning and analysis and held several finance leadership roles. A graduate of The Ohio State University, he began his career at PricewaterhouseCoopers LLP.