Toro appoints new CEO in planned succession

Edric C. Funk (Image: The Toro Company)

The leadership transition is part of a long-term, succession planning process, said Toro in a statement. It sees Funk join the board of directors, effective immediately, before he steps up to the top position later in the year.

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.

Joining The Toro Company in 1996 as a design engineer, he led the company’s Center for Technology, Research and Innovation in 2017, became general manager of the Sitework Systems business in 2020, and later served as group vice president of Golf, Grounds and Irrigation.

Funk holds a bachelor of science in engineering from the University of Minnesota and an MBA from the University of Minnesota, along with a professional certificate in innovation and technology from MIT. He serves on the boards of the National Golf Foundation and The Toro Company Foundation.

Richard Olson, who has been CEO since 2016, becomes executive chairman of the board. His 40-year career with the company began as a process engineer in Windom, Minnesota.

During his tenure as CEO, the company has doubled its revenue, expanded into infrastructure markets through strategic acquisitions such as Charles Machine Works, and invested in technology to be a leader in electrification, smart connectivity and robotic solutions.

Brands owned by The Toro Company and used in the construction industry include Toro, Ditch Witch, HammerHead, American Augers, Subsite and Radius HDD Tools.