Toro announces CEO succession: Edric Funk to become President and CEO effective Nov 1, 2026

TORO CO

Edric C. Funk elected President and CEO, effective Nov 1, 2026; also elected to Board immediately.
Current CEO Richard M. Olson transitions to Executive Chairman, effective Nov 1, 2026.
Funk's base salary increased from $715,000 to $1,000,000; FY2027 cash incentive target set at 120% of salary.
Olson's base salary set at $763,000 as Executive Chairman; FY2027 cash incentive target at 130% of salary.
Funk joined Toro in 1996 as design engineer; most recently served as President and COO since Sep 2025.

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