Toro Names Funk CEO as Olson Moves to Chairman
Edric C. Funk will take the helm Nov. 1 after serving as president and operating chief.
The Toro Company (TTC) named President and Chief Operating Officer Edric C. Funk to succeed Richard M. Olson as chief executive, setting a leadership transition after a decade of growth under Olson.
The equipment maker said Funk will become president and CEO, while Olson will move to executive chairman.
Revenue doubled during Olson’s tenure as CEO, which began in 2016.
Toro also expanded into infrastructure markets under Olson, including through its acquisition of Charles Machine Works.
Funk’s elevation from operating chief placed an internal executive in charge of the company’s next phase. His appointment is effective Nov. 1, 2026.
Olson’s move to executive chairman will keep the outgoing CEO involved after the handoff.