Bad language in the boardroom
Three Scotts Miracle-Gro board members resigned following the delivery of a unanimously supported reprimand of CEO Jim Hagedorn that stemmed from the use of inappropriate language.
Hagedorn apologized in a statement.
"While I have a tendency to use colorful language, I recognize my comments in this case were inappropriate and I apologize," Hagedorn said. "I, along with the rest of our board members, consider the matter resolved and I have made a personal commitment to prevent a future recurrence."
The three recent resignations came from Carl F. Kohrt, PhD, who recently accepted the position as president of his alma mater, Furman University in South Carolina; as well as John S. Shiely and William G. Jurgensen. The company says it will not fill the current vacancies.
The board will likely be reduced in size to eight to 10 members over time as part of the normal nominating and election process.
Scotts added that all three former board members confirmed that their departures were not related to any disagreement relating to the company’s operations, policies, practices or financial reporting.
"Each of these board members served us well for many years, and I want to thank them for their counsel and contributions," said Hagedorn. "I wish them each well in their future endeavors."
WD-40 unveils ‘Made in the U.S.A.’ cans
WD-40 Co. is introducing limited edition “Made in the U.S.A.” WD-40 Smart Straw cans to help celebrate the 60th anniversary of WD-40 Multi-Use Product.
New 8- and 12-ounce WD-40 Smart Straw cans at select retailers include the special packaging and are available for a limited time.
“The WD-40 brand is as American as apple pie, and these special cans are a salute to those who subscribe to the tradition of hard work and the practice of getting the job done,” said Tim Lesmeister, VP marketing for WD-40 Co. “We’re very proud our flagship product is made right here in the U.S.A. and is used to help people get the job done in 187 countries around the world.”
Originally called Rocket Chemical Co., the company set out in the early 1950s to create a rust prevention solvent for the Atlas Missile, finally finding the right mix on its 40th attempt. Water Displacement, 40th Formula (WD-40) was used as the name.