Business People: Edric Funk to take over as Toro Co. CEO

July 27, 2026 - 00:33

The Toro Co. has announced a leadership transition, with President and Chief Operating Officer Edric C. Funk set to become the company's next chief executive officer. Funk will take over the top role from current CEO Richard M. Olson, who is retiring after leading the Bloomington-based manufacturer for several years. The change is effective at the start of the company's next fiscal year.

Funk has been with Toro since 2008 and has held a series of senior roles, including overseeing global operations and supply chain. He was promoted to president and COO in 2020. The company's board cited his deep knowledge of the business and his track record of driving efficiency as key reasons for the appointment.

Toro is known for its lawn mowers, snow blowers, and irrigation systems, serving both homeowners and professional landscapers, golf courses, and municipalities. The company has faced recent headwinds from rising material costs and shifting consumer demand, but has maintained steady revenue through its commercial and rental segments. Olson will remain with the company in an advisory capacity through early next year to ensure a smooth handoff.