On July 21, 2026, The Toro Company's board elected Edric C. Funk as President and CEO, effective November 1, 2026, and immediately appointed him to the board. Current Chairman and CEO Richard M. Olson will become Executive Chairman on that date. Funk's base salary will rise from $715,000 to $1,000,000, and his 2027 annual cash incentive target is set at 120% of base salary. The board also increased its size from nine to ten directors to seat Funk.
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