Scotts Miracle-Gro CFO Miller departs; Evans named interim CFO; FY22 FCF guidance revised to -$275M to -$325M

SCOTTS MIRACLE-GRO CO

CFO Cory Miller departed effective Aug 29 by mutual agreement, treated as involuntary termination without cause.
David Evans, board member and former CFO (2006-2013), appointed interim CFO effective Aug 30, 2022.
Evans to receive $140,625/month salary and $1,075,000 RSU grant vesting monthly through March 2023.
FY2022 free cash flow guidance revised to negative $275M-$325M from negative $150M; all other guidance reaffirmed.
Leverage ratio likely >6.0x debt-to-EBITDA at year-end but in compliance with amended credit facility.

item 5.02 item 8.01 item 9.01

Executive movements

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Appointed (interim)

David C. Evans

interim Chief Financial Officer

SMG · SCOTTS MIRACLE-GRO CO

Effective: 2022-08-30
Filed: September 1, 2022, 7:59 PM ET

On August 31, 2022, the Company announced that its Board of Directors appointed David C. Evans, 59, as interim Chief Financial Officer, effective August 30, 2022.

Departed

Cory J. Miller

Executive Vice President and Chief Financial Officer

SMG · SCOTTS MIRACLE-GRO CO

Effective: 2022-08-29
Successor: David C. Evans
Filed: September 1, 2022, 7:59 PM ET

On August 29, 2022, The Scotts Miracle-Gro Company (the “Company”) and Cory J. Miller, Executive Vice President & Chief Financial Officer, mutually agreed that he will depart his position as Executive Vice President & Chief Financial Officer effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David C. Evans was appointed as interim Chief Financial Officer at SCOTTS MIRACLE-GRO CO.

Action: appointed
Role: interim Chief Financial Officer

Exact text from the filing

On August 31, 2022, the Company announced that its Board of Directors appointed David C. Evans, 59, as interim Chief Financial Officer, effective August 30, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Cory J. Miller departed as Executive Vice President and Chief Financial Officer at SCOTTS MIRACLE-GRO CO.

Action: departed
Role: Executive Vice President and Chief Financial Officer

Exact text from the filing

On August 29, 2022, The Scotts Miracle-Gro Company (the “Company”) and Cory J. Miller, Executive Vice President & Chief Financial Officer, mutually agreed that he will depart his position as Executive Vice President & Chief Financial Officer effective immediately.

View on SEC.gov

SCOTTS MIRACLE-GRO CO filing history →

Source: SEC EDGAR

accession 0001443984-22-000242

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