AeroGrow International, Inc. Board of Directors of the Company was restructured effective November 29 to reflect SMG's new ownership position. As part of these changes, Board member and CEO J. Michael Wolfe, and Board member Michael S. Barish resigned their Board seats, as of November 29. Mr. Wolfe will remain in his capacity as President and CEO of the Company. Jack J. Walker and Wayne Harding will remain on the Board as independent directors. Chris Hagedorn, GM of The Hawthorne Gardening Company, a wholly-owned subsidiary of ScottsMiracle-Gro focused primarily on the areas of indoor and urban gardening, will assume the position of Chairman of the Board, replacing Mr. Walker who has served in this capacity since 2008. Two new Board members were appointed effective November 29, Peter D. Supron and Albert J. Messina. Mr. Supron, an 18-year veteran at The Scotts Miracle-Gro Company, is currently the Chief of Staff to the President and COO of ScottsMiracle-Gro, and has been a non-voting observer on AeroGrow's Board since 2013. Mr. Messina is the Finance and Strategy Lead at The Hawthorne Gardening Company and brings a background in corporate development, strategic planning and investment banking to the Board.

The new Board declared a $41 million distribution ($1.21 per share) to shareholders of record on December 20, 2016, with a payout date for the distribution of January 3, 2017.