The Toro Company Names Edric Funk as Next Chief Executive Officer
Edric C. Funk, President, Chief Operating Officer, incoming Chief Executive Officer of The Toro Company • Photo Courtesy of The Toro Company
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The Toro Company has named President and Chief Operating Officer Edric C. Funk as its next Chief Executive Officer as part of a planned leadership succession.
BLOOMINGTON, Minn., July 22, 2026, (VSNewsNetwork.com) — The Toro Company has appointed Edric C. Funk as President and Chief Executive Officer, effective Nov. 1, 2026, as part of the company's long-term succession plan.
Funk will also join the company’s Board of Directors immediately. He will succeed Richard M. Olson, who will transition to Executive Chairman of the Board after serving as Chief Executive Officer since 2016.
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“Edric is a proven and highly respected leader within The Toro Company and across the markets we serve. 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. Throughout his tenure, he 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,” said Olson.
Funk, a 30-year veteran of The Toro Company, has served as President and Chief Operating Officer since September 2025, with responsibility for the company’s global businesses and integrated supply chain operations.
He joined The Toro Company in 1996 as a Design Engineer and has held leadership positions spanning engineering, marketing, global product management and technology innovation.
Funk led the company’s Center for Technology, Research and Innovation in 2017 and became General Manager of the Sitework Systems business in 2020. He later served as Group Vice President of Golf, Grounds and Irrigation.
“It is an honor to take on this role and continue building upon The Toro Company’s longstanding commitment to excellence. 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, I’ve had the opportunity to work alongside our exceptional global teams and gain 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,” said Funk..
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 holds a professional certificate in innovation and technology from the Massachusetts Institute of Technology.
He serves on the boards of the National Golf Foundation and The Toro Company Foundation.
“On behalf of the entire board, we thank Rick for his outstanding leadership and partnership. His stewardship of The Toro Company has driven strong performance, enhanced shareholder value, and strengthened the company’s position for the future. We are pleased that the organization will continue to benefit from his leadership as Executive Chairman,” said Jeffrey L. Harmening, Lead Independent Director.
Olson began his career with The Toro Company more than 40 years ago as a Process Engineer in Windom, Minnesota.
During his tenure as Chief Executive Officer, the company doubled its revenue, expanded into infrastructure markets through acquisitions including Charles Machine Works, and invested in electrification, smart connectivity and robotic technologies.
The Toro Company is a family of brands that provides equipment and solutions for turf and landscape maintenance, snow and ice management, underground construction, rental and specialty construction, irrigation, and outdoor lighting. Its products are sold in more than 125 countries.
For more information, visit www.thetorocompany.com.
Source: The Toro Company
