Toro Elects Next President, CEO
Toro has announced its leadership transition as part of a long-term succession process.
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| Edric Funk |
Edric C. Funk has been elected by the company’s board of directors as its new president and CEO, effective November 1, 2026.
Funk will succeed Richard M. Olson, who will transition to the role of executive chairman of the board following more than four decades with the company, most recently as chief executive officer since 2016.
“Edric is a proven and highly respected leader within The Toro Company and across the markets we serve,” Olson said. “His outstanding track record of performance and accountability exemplifies what is possible when strong results are balanced with a deep commitment to people and purpose.”
The outgoing CEO added that throughout his tenure, Funk has consistently executed key priorities to deliver shareholder value, inspire teams and foster trusting relationships.
“I have great confidence in the future of The Toro Company under Edric’s leadership to further build on our legacy of innovation and success,” Olson said.
Funk, a 30-year veteran of the company, has served as president and chief operating officer since September 2025 with responsibility for all its global businesses and integrated supply chain operations.
He originally joined The Toro Company in 1996 as a design engineer and has since developed a deep understanding of the company’s industries and customers through leadership roles spanning engineering, marketing, global product management and technology innovation.
"It is an honor to take on this role and continue building upon The Toro Company's longstanding commitment to excellence," Funk said. “I am grateful for the confidence and support of the board and extend my sincere appreciation to Rick for his leadership and mentorship.”
Over the past 30 years he has worked alongside Toro’s global teams and gained a deep appreciation for the relationships, innovation and customer focus that serve as hallmarks of the company.
“I look forward to building on those strengths as we advance our market leadership and deliver long-term value for our stakeholders,” he said.
Funk holds a Bachelor of Science in engineering from the University of Minnesota and an MBA from the University of Minnesota – Carlson School of Management. He also has a professional certificate in innovation and technology from the Massachusetts Institute of Technology.
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