Scotts Miracle-Gro (SMG) - Get Scotts Miracle-Gro Company Class A Report said Tuesday that President and Chief Operating Officer Robert F. Bernstock left the company amid differing opinions on long-term strategy.
The operating chief position will be eliminated as part of a new organizational structure at the company, the lawn and garden products maker said.
Each of the company's operating units will now report to Chairman and Chief Executive Jim Hagedorn. Scotts named Chris Nagel named executive vice president of the North American consumer business, its largest operating unit.
Scotts said the decision to make a leadership change was caused by differing views on long-term strategy and the need to "reinvigorate the culture of the North American organization."
"Bob was a valuable contributor to ScottsMiracle-Gro and all of us are grateful for the contributions he made to our success," Hagedorn said in a statement. "In my view, however, it is impossible to succeed without alignment on both long-term strategy and culture.
In after-hours trading, the company's shares recently changed hands at $43, down $1.53, or 3.4%.
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