Edric Funk Takes Over as Toro CEO; Richard Olson Becomes Executive Chairman
The planned succession at the mower and outdoor equipment maker took effect on November 1.
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Edric C. Funk became president and chief executive officer of The Toro Company on November 1, 2026. Richard M. Olson, chief executive since November 2016 and chairman since November 2017, moved to the role of executive chairman on the same date.
The board approved the planned succession on July 21, 2026, according to the company's announcement and SEC filing. Funk, who has spent about 30 years at Toro, had served as president and chief operating officer since September 2025 and joined the board when the succession was announced.
The filing set Funk's base salary at USD 1,000,000 from November 1. Olson's base salary as executive chairman is USD 763,000.
Toro makes residential and professional mowers, golf-course and turf equipment, irrigation systems and construction equipment.
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