Minneapolis, United States: Richard Olson, a veteran of more than three decades with The Toro Co, has been selected as the company’s new President and Chief Executive Officer, a position he will officially assume on November 1.
Olson has served as Toro’s President and Chief Operating Officer since last September and was elected to the company’s Board of Directors in January. Michael Hoffman, Toro’s current Chairman and CEO, will continue to serve as Chairman of the Board.
Olson joined Toro in 1986 as a manufacturing process engineer. He has held various positions in operations and engineering including Manager of Advanced Manufacturing, Commercial Engineering Programme Manager, Director of Shakopee plant operations and Managing Director of northern manufacturing operations.
In 2010, he was named General Manager of Exmark and was appointed Vice President, Exmark in 2012. The following year Olson was named Vice President, International Business before being elected Group Vice President, International Business, micro-irrigation business and distributor development in June 2014.
Reflecting on the coming changes, Hoffman was quoted by Golf Course Management magazine as saying: “Serving our employees and customers as Toro’s Chief Executive Officer has been the greatest privilege of my career. Our employees’ and channel partners’ passion for the business and relentless commitment to our company and brands have enabled us to accomplish much together.
“Looking forward, I am pleased and confident in passing the responsibilities of Chief Executive on to such a strong and tested leader as Rick Olson. His extensive experience, intelligence and commitment to our company’s core values make him an ideal candidate for his new role.”
Hoffman joined Toro in 1977 and served the company in various service, sales and marketing roles before holding a series of key executive positions across the company’s commercial and residential businesses.
He was elected President in October 2004, Chief Executive Officer in March 2005 and Chairman of the Board in March 2006.
“I am honoured to have the opportunity to continue the storied legacy of our great company that Mike and leaders before him like Ken Melrose and David Lilly helped build through the decades, making Toro all that it is today,” said Olson.
“Like my predecessors, I will rely on the dedication and hard work of the entire Toro family. I look forward to working closely with our talented employees and channel partners to keep our company growing by delivering superior innovation and superior customer care.”
Toro is an Executive Member of the Asian Golf Industry Federation.
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