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Scotts Miracle-Gro CFO Resigns

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On Monday, fertilizer and seed seller Scotts Miracle-Gro (NYSE: SMG  ) announced that Chief Financial Officer Dave Evans has resigned from the company to take a similar job at Columbus-based Battelle, "the world's largest nonprofit research and development organization."

In a public statement, Evans described his mixed emotions leaving Scotts but that the opportunity to take a dream job with an organization boasting "a commitment to science and technology for the greater good" appeared too strong to resist. Nevertheless, Evans says he will remain with Scotts until it has filed its Q1 earnings report in mid-February and will furthermore work "actively" to help the company locate and hire his replacement and provide for "an orderly transition."

Scotts shares tumbled on the news regardless, ending the day down 3.7% at $44.01.

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9/23/2016 4:02 PM
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Scotts Miracle-Gro CAPS Rating: *****