James Hardie appoints independent director
Anne Lloyd served as CFO of aggregates supplier Marietta Materials.
James Hardie Industries plc, the fiber cement building products manufacturer, has appointed Anne Lloyd as an independent nonexecutive director of the company.
Lloyd served as chief financial officer of Martin Marietta Materials, Inc. a leading supplier of aggregates and heavy building materials, for over 12 years from June 2005 until her retirement in August 2017. She joined Martin Marietta in 1998 as vice president and Controller and was promoted to chief accounting officer in 1999. She was subsequently appointed treasurer (2006-2013) and promoted to executive vice president in 2009.
“I am delighted that Anne has agreed to join our Board. With her extensive public company financial and business experience, she will be a valuable addition to the board,” said Michael Hammes, chairman of James Hardie.
Central Garden & Pet appoints new director
John Hanson is a veteran of ConAgra and Oasis Brands.
Central Garden & Pet Company, the supplier and distributor of branded and private label products for the lawn & garden and pet supplies markets, has appointed John Hanson to the company’s board of directors, effective immediately.
The appointment of Hanson increases Central’s board from 9 to 10 directors.
“We are pleased to welcome John to Central’s Board. John’s over 25 years of leadership experience in the consumer packaged goods (CPG) arena make him an invaluable resource for the organization,” said Sonny Pennington, chairman of Central Garden & Pet. “He is well-versed on what it takes for a company to grow both organically and through acquisitions, and we look forward to his engagement with the Board and management as we seek to continue to drive long-term revenue and profit growth, all while enhancing shareholder value.”
Hanson spent 4 years as president of ConAgra’s Frozen Food division and served as CEO of Oasis Brands. He is currently a consultant to CPG companies.
Scotts losses widen in Q4
Full-year sales rise 1% to $2.66 billion in 2018.
Scotts Miracle-Gro reported fourth quarter 2018 net sales increased 15% to $433.9 million compared to fourth quarter 2017 net sales of $376.7 million.
For the full year, sales rose just 1% to $2.66 billion from full-year 2017 sales of $2.64 billion.
But the Marysville, Ohio-based lawn and garden products manufacturer, reported a net loss of $146.9 million for the fourth quarter in comparison to a net loss of $33.4 million for the same period in 2017.
Scotts posted a net income of $63.7 million for the full year, down from a net income of $218.8 million in the prior fiscal year.
“There is little doubt that fiscal 2018 was one of our most challenging years in recent memory,” said Jim Hagedorn, chairman and CEO of Scotts Miracle-Gro. “Our U.S. Consumer business, however, had a strong second half following unfavorable early season weather. The Hawthorne team also made substantial progress in recent months, integrating the Sunlight acquisition to enable strong benefits for 2019.”
For the fourth quarter, Scotts’ subsidiary Hawthorne reported sales of $152.2 million, a 65% increase from the same period a year ago, driven by acquisitions. Excluding acquisitions, sales decreased 15% due to declines in the North American hydroponic business partially offset by growth in the European professional greenhouse market and AeroGrow. Hawthorne also reported a segment profit of just $0.5 million in the quarter compared with $9 million a year earlier.