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United States

Toro Co (TTC.N)

TTC.N on New York Stock Exchange

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17 Feb 2017
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Summary

Name Age Since Current Position

Michael Hoffman

61 2016 Chairman of the Board

Richard Olson

52 2016 President, Chief Executive Officer, Director

Renee Peterson

54 2013 Chief Financial Officer, Vice President, Treasurer

Timothy Dordell

53 2007 Vice President, General Counsel, Secretary

William Brown

54 2013 Vice President - Commercial and Irrigation Businesses

Robert Buhrmaster

68 1996 Lead Independent Director

D. Christian Koch

51 2016 Director

Janet Cooper

62 1994 Independent Director

Gary Ellis

59 2006 Independent Director

Jeffrey Ettinger

57 2010 Independent Director

Katherine Harless

64 2000 Independent Director

James O'Rourke

55 2012 Independent Director

Gregg Steinhafel

61 1999 Independent Director

Christopher Twomey

67 1998 Independent Director

Amy Dahl

Managing Director, Corporate Communications & Investor Relations

Biographies

Name Description

Michael Hoffman

Mr. Michael J. Hoffman is Chairman of the Board of the Company. He is no longer Chief Executive Officer effective November 1, 2016. Mr. Hoffman was appointed as Chairman in March 2006, was elected as Chief Executive Officer in March 2005, and was elected as President in October 2004, a title he held through August 2015.In his more than 38 years with our Company, Mr. Hoffman has developed and brings to our Board leadership experience and extensive knowledge of all aspects of our Company, business, industry, markets and day-to-day operations. Mr. Hoffman contributes an unwavering commitment to quality and innovation in our products, customer service, manufacturing, and marketing, and is a strong steward of our culture and ethical “tone at the top.” As a result of his dual role as Chairman and CEO, Mr. Hoffman provides unique insight into our Company’s future strategies, opportunities and challenges, and serves as the unifying element between the leadership and strategic direction provided by our Board and the implementation of our business strategies by Management.

Richard Olson

Mr. Richard M. Olson has been President, Chief Executive Officer, Director of the Company. He has been appointed as Chief Executive Officer effective November 1, 2016. Mr. Olson has served Toro in various roles throughout his 30-year tenure, most recently as President and Chief Operating Officer, a position he has held since September 2015. He joined Toro in 1986 and spent his first 14 years in increasing leadership roles in operations, including as a Commercial Engineering Program Manager, Director of Plant Operations at Toro’s facility in Shakopee, Minnesota, and Managing Director of Northern Manufacturing Operations. Since 2010, Mr. Olson has held a number of executive positions in Toro’s businesses, including as General Manager, Exmark division, from September 2010 to March 2012, Vice President, Exmark division, from March 2012 to March 2013, Vice President, International Business from March 2013 to June 2014, and Group Vice President, International Business, Micro-Irrigation Business and Distributor Development from June 2014 to September 2015. Mr. Olson has served as a member of Toro’s Board since January 19, 2016.

Renee Peterson

Ms. Renee J. Peterson is Chief Financial Officer, Vice President, Treasurer of The Toro Co., since July 2013. From August 2011 to July 2013, she served as Vice President, Finance and Chief Financial Officer. In March 2012, she also assumed responsibility for our Information Services function. From July 2009 to August 2011, she served as Vice President – Finance and Planning for the Truck and Automotive Segments of Eaton Corporation, a diversified industrial manufacturer.

Timothy Dordell

Mr. Timothy P. Dordell is Vice President, General Counsel, Secretary of Toro Co., since May 2007. From November 2006 to May 2007, he served as Vice President, Deputy General Counsel. From May 2002 to November 2006, he served as Associate General Counsel-Corporate and Assistant Secretary at Ecolab Inc., a developer and marketer of products and services for the hospitality, foodservice, healthcare, and industrial markets.

William Brown

Mr. William E. Brown, Jr., is Vice President - Commercial and Irrigation Businesses of Toro Co., since March 2013. . He also assumed responsibility of the BOSS business in November 2014. From March 2012 to March 2013, he served as Group Vice President, International and Commercial Businesses. From August 2010 to March 2012, he served as Vice President, International Business.

Robert Buhrmaster

Mr. Robert C. Buhrmaster is Lead Independent Director of Toro Co. He was the Chairman and Chief Executive Officer of Jostens, Inc., Minneapolis, Minnesota (a designer and producer of athletic championship and scholastic products), until his retirement in 2004. Mr. Buhrmaster was appointed Chairman of Jostens in 1998 and was elected as Chief Executive Officer in 1994. He also served as President of Jostens from 1994 to January 2003.Mr. Buhrmaster has developed and brings to our Board strong business leadership, corporate strategy and operational expertise that he acquired throughout his long career at Jostens. Additionally, as an experienced public company director and former executive of a public company, Mr. Buhrmaster contributes an enhanced knowledge of public company requirements and issues, including corporate governance matters.

D. Christian Koch

Mr. D. Christian “Chris” Koch is Director of the Company. Mr. Koch is the President and Chief Executive Officer of Carlisle Companies Incorporated (NYSE: CSL), Charlotte, North Carolina, a diversified manufacturing company that manufactures and distributes a broad range of products (“Carlisle”). Since joining Carlisle in 2008, he has served in a variety of roles, including Chief Operating Officer; Group President of Carlisle Diversified Products; President of Carlisle Brake & Friction, Inc.; and as President of Carlisle Asia-Pacific. Mr. Koch has served as President and Chief Executive Officer of Carlisle since January 2016 and he served as President and Chief Operating Officer of Carlisle from May 2014 to January 2016. Prior to his employment at Carlisle, Mr. Koch held a variety of senior management positions at each of Graco Inc. and H.B. Fuller Company. Mr. Koch currently serves on the board of directors of Carlisle and he previously served on the board of directors of Arctic Cat Inc. (NASDAQ: ACAT). Koch holds a bachelor’s degree in economics and history from Macalester College, along with a master’s degree in business administration from the Carlson School of Management at the University of Minnesota.

Janet Cooper

Ms. Janet K. Cooper is Independent Director of Toro Co. She was the Senior Vice President and Treasurer of Qwest Communications International Inc., Denver, Colorado (a U.S. telecommunications company that merged with and now does business as CenturyLink), from September 2002 to June 2008. From 2001 to 2002, she served as Chief Financial Officer and Senior Vice President of McDATA Corporation. From 2000 to 2001, she served as Senior Vice President, Finance of Qwest. From 1998 to 2000, she served in various senior level finance positions at US West Inc., including as Vice President, Finance and Controller and Vice President and Treasurer.Through her experience in various senior level financial positions, Ms. Cooper has developed substantial financial and accounting knowledge and expertise. Ms. Cooper’s financial expertise and acumen in capital markets, audit, tax, accounting, treasury and risk-management matters assists our Board in providing oversight to Management on these matters. Ms. Cooper’s senior leadership experience also enables her to provide strategic input to our Board, in addition to her financial expertise, discipline and oversight.

Gary Ellis

Mr. Gary L. Ellis is Independent Director of Toro Co. He is the Executive Vice President and Chief Financial Officer of Medtronic plc, Dublin, Ireland (a global medical technology company), a position he has held since January 2015. Previously, he was the Executive Vice President and Chief Financial Officer of Medtronic, Inc., a position he held since April 2014, Senior Vice President and Chief Financial Officer of Medtronic, Inc. from May 2005 to April 2014, and Vice President, Corporate Controller and Treasurer of Medtronic, Inc. from 1999 to May 2005.Mr. Ellis possesses and brings relevant financial leadership experience and expertise to our Board which provides oversight regarding capital structure, financial condition and policies, long-range financial objectives, tax strategies, financing requirements and arrangements, capital budgets and expenditures, risk-management, insurance coverage, and strategic planning matters. Additionally, Mr. Ellis contributes his international experience managing worldwide financial operations and analyzing financial implications of merger and acquisition transactions, as well as aligning business strategies and financial decisions.

Jeffrey Ettinger

Mr. Jeffrey M. Ettinger is Independent Director of Toro Co. He is the Chairman and Chief Executive Officer of Hormel Foods Corporation, Austin, Minnesota (a multinational manufacturer and marketer of consumer-branded food and meat products). Mr. Ettinger has held these positions since November 2006, and until October 2015 also served as President. Previously, he was President and Chief Executive Officer of Hormel Foods from January 2006 to November 2006, and was President and Chief Operating Officer from 2004 to 2006.Mr. Ettinger brings to our Board strong business acumen, significant executive leadership attributes and relevant experience of driving growth through innovation and strategic acquisitions. Mr. Ettinger provides relevant insight and guidance with respect to numerous issues important to our Company, including, in particular, our strategy of driving growth in our business through the development of innovative, customer-valued products and expansion of our global presence through targeted acquisitions. Additionally, he contributes knowledge of public company requirements and issues.

Katherine Harless

Ms. Katherine J. Harless is Independent Director of Toro Co. She was the President and Chief Executive Officer of Idearc Inc., Dallas/Fort Worth, Texas (a provider of sales, publishing and related services including Verizon Yellow Pages and SuperPages.com), from November 2006 until her retirement in February 2008. She previously served as President and Chief Executive Officer of Verizon Information Services Inc. from 2000 to November 2006, when it was spun off by Verizon Communications, Inc. to become Idearc, and was a director of Idearc from November 2006 to May 2008. On December 31, 2009, Idearc emerged from voluntary Chapter 11 bankruptcy proceedings that it filed in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division, on March 31, 2009, which was after Ms. Harless retired from Idearc. Ms. Harless is a director of the North Texas Chapter of the National Association of Corporate Directors (“NACD”) and is an NACD Board Leadership Fellow.Ms. Harless brings to our Board executive leadership experience, management skills and knowledge of financial, executive compensation, corporate governance and issues applicable to public companies. Ms. Harless provides a seasoned business perspective and provides valuable business, leadership and management insights with respect to our strategic direction.

James O'Rourke

Mr. James C. O'Rourke is Independent Director of Toro Co., since August 28, 2012. He is the President and Chief Executive Officer of The Mosaic Company, Plymouth, Minnesota (a global producer and marketer of combined concentrated phosphate and potash crop nutrients for the global agriculture industry), a position he has held since August 2015. Previously, he served as Mosaic’s Executive Vice President—Operations and Chief Operating Officer since August 2012, and as Executive Vice President— Operations since January 2009, when he joined Mosaic. Prior to joining Mosaic, Mr. O’Rourke was President, Australia Pacific for Barrick Gold Corporation since May 2006.Mr. O’Rourke has developed and brings to our Board significant leadership skills, strategic and innovative thinking and strong international business expertise. He also contributes substantial knowledge of worldwide manufacturing, distribution and supply chain strategies and environmental, health and safety matters.

Gregg Steinhafel

Mr. Gregg W. Steinhafel is Independent Director of Toro Co. He served as the Chairman, President and Chief Executive Officer of Target Corporation, Minneapolis, Minnesota (a variety retailing company) until May 2014. Mr. Steinhafel was appointed as Chairman of Target in February 2009, was elected as Chief Executive Officer of Target in May 2008, was appointed a director of Target in January 2007, and was elected as President of Target in 1999. In January 2015, after Mr. Steinhafel left Target, Target Canada Co., an indirect wholly owned subsidiary of Target, filed an application for protection under the Companies’ Creditors Arrangement Act with the Ontario Superior Court of Justice in Toronto.Mr. Steinhafel brings to our Board meaningful leadership experience and retail knowledge that he developed in his more than 30 years with Target, including a deep understanding of the value of strong brand recognition, devotion to innovation, strong supply chain initiatives, and a disciplined approach to business management and investment in future growth. In addition, he contributes decision-making skills and valuable strategic planning expertise, as well as significant and relevant knowledge of public company requirements and issues. Mr. Steinhafel’s significant retail knowledge assists our Board in providing guidance with respect to our residential business, which is affected by consumer confidence and spending levels, changing buying patterns of customers and product placement at mass retailers.

Christopher Twomey

Mr. Christopher A. Twomey is Independent Director of Toro Co. He served as Chairman of the Board of Arctic Cat Inc., Thief River Falls, Minnesota (a manufacturer of all-terrain vehicles and snowmobiles), from June 2014 until his retirement in August 2015. He was the interim President and Chief Executive Officer of Arctic Cat from June 2014 until December 2014. He previously served as Chairman of the Board of Arctic Cat from August 2003 until August 2012, and Chief Executive Officer of Arctic Cat from 1986 until he first retired in December 2010. Mr. Twomey brings to our Board meaningful strategic, management and operational experience and knowledge. As a result of Mr. Twomey’s long career in a business and industry dependent on distributor relationships and financing sources, and affected by weather conditions and seasonality considerations, he provides valuable knowledge and insight with respect to similar issues faced by our Company. Mr. Twomey also contributes a solid understanding of public company requirements and issues, including executive compensation and corporate governance matters.

Amy Dahl

Basic Compensation