Scotts Miracle-Gro appoints Nick Miaritis to its Board of Directors, enhancing marketing strategy and brand engagement expertise.
Quiver AI Summary
The Scotts Miracle-Gro Company has appointed Nick Miaritis, chief client officer at VaynerMedia, to its Board of Directors, effective January 31, 2025. Miaritis brings extensive experience in brand partnerships and creative marketing, having led successful campaigns for major brands such as Duracell and Planters. His addition to the Board coincides with the retirement of Tom Kelly, who served nearly 20 years and chaired the innovation committee. Chairman and CEO Jim Hagedorn believes Miaritis’s creative vision and marketing expertise will be invaluable as the company evolves its consumer marketing strategies. This marks the fifth new appointment to the Board since 2022, reflecting a focus on diversifying skills and perspectives.
Potential Positives
- Nick Miaritis brings extensive experience in brand transformation and consumer engagement from his role at VaynerMedia, which may enhance ScottsMiracle-Gro's marketing strategy.
- The appointment of Miaritis aligns with the company's focus on evolving its consumer marketing capabilities, potentially leading to competitive advantages in the market.
- The addition of Miaritis reflects a commitment to diversifying the Board's skills and perspectives, which could support innovation and growth initiatives.
- The Board continues to refresh its leadership, with Miaritis being the fifth recent appointment, indicating a proactive approach to governance and strategic direction.
Potential Negatives
- The appointment of Nick Miaritis comes as a replacement for Tom Kelly, who was a long-serving Board member; this change may raise questions about continuity and strategic direction within the Board.
- This marks the fifth appointment to the Board since 2022, implying potential instability or ongoing restructuring at the Board level.
- The need to appoint new Board members may suggest recruitment challenges or pressure for new perspectives, indicating possible shortcomings in the existing leadership's strategies.
FAQ
Who is Nick Miaritis?
Nick Miaritis is the newly appointed Board member for Scotts Miracle-Gro and the chief client officer at VaynerMedia.
What experience does Nick Miaritis bring to Scotts Miracle-Gro?
Miaritis has a strong background in brand partnerships, creative marketing, and consumer engagement across various platforms.
What notable campaigns has Miaritis created?
He has created impactful campaigns such as Duracell’s “I Buy My Own Batteries” and Planters’ “Death of Mr. Peanut.”
Why was Nick Miaritis appointed to the Board?
His appointment aims to bring fresh perspectives and enhance the company's consumer marketing strategy during a transformational phase.
What was Tom Kelly’s role before retiring?
Tom Kelly chaired the innovation committee and contributed to product strategy and development for nearly 20 years on the Board.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SMG Insider Trading Activity
$SMG insiders have traded $SMG stock on the open market 18 times in the past 6 months. Of those trades, 0 have been purchases and 18 have been sales.
Here’s a breakdown of recent trading of $SMG stock by insiders over the last 6 months:
- PARTNERSHIP, L.P. HAGEDORN has made 0 purchases and 9 sales selling 248,644 shares for an estimated $18,169,931.
- ROBERT HAGEDORN has made 0 purchases and 2 sales selling 108,550 shares for an estimated $8,100,353.
- JAMES HAGEDORN (CEO and Chairman) sold 18,368 shares for an estimated $1,390,033
- NATHAN ERIC BAXTER (EVP and COO) has made 0 purchases and 6 sales selling 15,275 shares for an estimated $1,133,518.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SMG Hedge Fund Activity
We have seen 185 institutional investors add shares of $SMG stock to their portfolio, and 234 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PRICE T ROWE ASSOCIATES INC /MD/ removed 2,648,024 shares (-97.3%) from their portfolio in Q3 2024, for an estimated $229,583,680
- PACER ADVISORS, INC. removed 1,355,592 shares (-42.7%) from their portfolio in Q4 2024, for an estimated $89,929,973
- BALYASNY ASSET MANAGEMENT L.P. added 702,104 shares (+590.9%) to their portfolio in Q3 2024, for an estimated $60,872,416
- DEPRINCE RACE & ZOLLO INC removed 672,556 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $58,310,605
- MILLENNIUM MANAGEMENT LLC removed 620,857 shares (-76.1%) from their portfolio in Q3 2024, for an estimated $53,828,301
- FULLER & THALER ASSET MANAGEMENT, INC. added 527,925 shares (+inf%) to their portfolio in Q3 2024, for an estimated $45,771,097
- SCHONFELD STRATEGIC ADVISORS LLC removed 394,345 shares (-68.4%) from their portfolio in Q3 2024, for an estimated $34,189,711
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MARYSVILLE, Ohio, Jan. 31, 2025 (GLOBE NEWSWIRE) -- The Scotts Miracle-Gro Company (NYSE: SMG), the world’s leading marketer of branded consumer lawn and garden as well as indoor and hydroponic growing products, today announced that Nick Miaritis has been named to its Board of Directors.
Miaritis is chief client officer at VaynerMedia, a global creative and media agency, where he leads brand partnerships, accelerates growth opportunities and develops new capabilities. With a passion for crafting culturally relevant content for Fortune 500 brands, he infuses every project with his unique creative vision and strategic edge. Since joining VaynerMedia, he has created leading campaigns, such as Duracell’s “I Buy My Own Batteries” and Planters “Death of Mr. Peanut."
“Nick has an impressive record of transforming brands and integrating technology, media, creative, strategy, analytics and many other aspects of marketing to drive powerful outcomes,” said Jim Hagedorn, chairman and CEO of ScottsMiracle-Gro. “He has deep experience in engaging consumers on traditional and emerging platforms. He will be an important resource at a transformative time in our Company, as we further evolve and invest in our consumer marketing powerhouse to gain competitive advantages that exceed what we have today.”
Miaritis, a graduate of Georgetown University, is co-founder of the trivia app, FleetWit, and is an advisor to the payments platform Prizeout. He fills the Board seat previously held by Tom Kelly, who retired January 31, 2025, after nearly 20 years as a Board member. Kelly most recently chaired the innovation committee, where he helped guide product strategy and development.
“We are grateful for Tom’s commitment and valuable contributions as a strategic visionary,” Hagedorn said. “We thank him for his years of service and wish him the best as he moves to this next stage of his life.”
The appointment of Miaritis reflects the Board’s focus on adding expanded skills and experiences for fresh perspectives and viewpoints. He is the fifth appointment to the Board since 2022, joining fellow Board members Robert Candelino, Mark Kingdon, Brian Sandoval and Edith Avilés.
About ScottsMiracle-Gro
With approximately $3.6 billion in sales, the Company is the world’s largest marketer of branded consumer products for lawn and garden care. The Company’s brands are among the most recognized in the industry. The Company’s Scotts®, Miracle-Gro®, and Ortho® brands are market-leading in their categories. The Company’s wholly-owned subsidiary, The Hawthorne Gardening Company, is a leading provider of nutrients, lighting, and other materials used in the indoor and hydroponic growing segment. For additional information, visit us at www.scottsmiraclegro.com .
For investor inquiries:
Brad Chelton
Vice President, Treasury, Tax and Investor Relations
[email protected]
(937) 309-2503
For media inquiries:
Tom Matthews
Chief Communications Officer
[email protected]
(937) 844-3864
