James Hagedorn on corporate accountability
From ScottsMiracle-Gro CEO Jim Hagedorn On Overcoming Losing $2 Billion · · Executive House
“We burned $2 billion. No spin and no PR language. He called it what it was on camera and he stayed in the chair.”
On , James Hagedorn, Chief Executive Officer & Chairman of the Board at SCOTTS MIRACLE-GRO CO, spoke about corporate accountability during ScottsMiracle-Gro CEO Jim Hagedorn On Overcoming Losing $2 Billion on Executive House.
About James Hagedorn
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."