Scotts Miracle-Gro replaces CFO
Marysville, Ohio-based Scotts Miracle-Gro Company named Randy Coleman as executive VP and CFO.
Coleman replaces Larry Hilsheimer, who has left the company after slighlty more than a year in his role.
Chairman and CEO Jim Hagedorn described Coleman as a better fit for the position.
"Larry 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."
The announcement explained that Hilsheimer left the Company immediately and is pursuing other opportunities.
Coleman, 45, was most recently senior VP 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.
"As we look to capture the opportunities in front of us, the board and I recognized that Randy's deep understanding of our industry, our retail environment and the overall competitive landscape made him the right person for this role," said Hagedorn. "I have worked with Randy for more that a decade and consider him one of our very best leaders. 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."
The appointment of Coleman was not a reflection of any concerns related to the company's financial controls or business performance, Hagedorn said. The company will report its fiscal second quarter results after market on Monday, May 5.