Chief Executive Officer & Chairman of the Board, Scotts Miracle-gro
Search every verified James Hagedorn interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a March 2026 interview on The CEO Series, ScottsMiracle-Gro CEO Jim Hagedorn discussed the company's $2 billion loss from its investment in cannabis. Hagedorn described the loss as "the worst thing ever" and said he was "afraid" of "almost running this company into the garbage." He stated that the company viewed cannabis as an "early mover advantage" and that the acquired companies were "really good companies," but acknowledged the investment was a mistake. Hagedorn attributed part of the difficulty to the federal illegality of cannabis, noting that businesses in that sector cannot deduct expenses, resulting in an effective tax rate "north of 75%." Hagedorn also offered his views on leadership more broadly, saying "the state of leadership is abysmal" from President Trump down to "the mega cap." He contrasted the cannabis investment with the company's current position, stating that "the investment error is sucked out of the room" and that investors can now choose between companies like Nvidia or ScottsMiracle-Gro, which he described as a "seasonal little company with this family ownership."
“We burned $2 billion. No spin and no PR language. He called it what it was on camera and he stayed in the chair.”
“I think the state of leadership is abysmal. I think it's from the top down all the way from President Trump to the the mega cap.”
“The problem is that if you're running a federally illegal schedule one narcotics business, you cannot deduct your business expenses, which means your like revenue is your taxable income, which basically puts you at an effective tax rate of call it north of 75%.”
“I think the error is the the investment error is sucked out of the room and people can invest in Nvidia or Scots. this seasonal little company with this family ownership and I think it's like who cares? You know who's going to buy this company? We are.”
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