Scotts Miracle-Gro Directors Too Good For Use Of "Sh*t Pots" As Unit Of Measure
Scotts said Monday its board had unanimously reprimanded Mr. Hagedorn for his use of "inappropriate language," and that three independent directors had resigned following the move...In a statement Monday evening, the 57-year old chief executive said he has "a tendency to use colorful language," and apologized for what he said were "inappropriate" comments. He said he has made "a personal commitment to prevent a future recurrence." Mr. Hagedorn, CEO of Scotts since 2001, is the son of the man who co-founded Miracle-Gro. He is well known among analysts, reporters and people who do business with the company for his candid and often profane language. He is typically more restrained during investor calls, according to analysts. But at the company's analyst and investor day in December, four of Mr. Hagedorn's comments were edited for profanity, according to a transcript of the event from S&P Capital IQ. In describing the fragile mood of consumers during that event, Mr. Hagedorn said: "Whether it's fuel prices, stock market, or the bulls— in Washington, when consumers get stressed today, they shut down," according to the transcript. At the same event, Mr. Hagedorn also said that during better times for the lawn products business, the company was "making s— pots of money." [WSJ]
