The Toro Company Names Edric C. Funk President and Chief Operating Officer
Funk, a 29-year veteran of the company, has served as group vice president of Golf, Grounds and Irrigation since 2022. In this new role, he will assume responsibility for all of the company's global businesses and integrated supply chain operations, continuing to report to Richard M. Olson, chairman and chief executive officer.
"Edric's track record of driving business performance and fostering innovation uniquely equips him for the role of chief operating officer," said Olson. "Throughout his tenure, Edric has consistently delivered strong financial results and value creation across diverse technical and business functions – directly contributing to our growth and competitive position. His deep understanding of our customers, and technologies coupled with a disciplined strategic approach, will continue to propel The Toro Company forward and create value for all stakeholders."
Since joining The Toro Company in 1996 as a design engineer, Funk transitioned to marketing in 2003 and held roles of increasing responsibility in the company's Residential, Landscape Contractor, International and Commercial businesses. In 2014, he was promoted to director of global product management for the Commercial and International businesses, and in 2017 was named managing director of the company's Center for Technology, Research & Innovation (CTRI). Funk went on to become the general manager of the Sitework Systems business in 2020, before being promoted to group vice present of Golf, Grounds and Irrigation, where he has played an influential role in driving performance across multiple professional product categories.
Funk was instrumental in the acquisitions of both Left Hand Robotics and TURFLYNX, which accelerated the development of robotic mowing platforms recently introduced to the market. He also elevated the organization's technology community through the creation of its Technology Forum and has championed integrated smart systems delivering more holistic solutions for customers. In 2020, he was recognized by Golf, Inc. as one of the Most Innovative People in Golf.
"I am honored to serve in this role, and I look forward to working alongside our talented team to drive operational performance across our businesses, with a focus on accelerating profitable growth, advancing the company's technology roadmap and optimizing global supply chain operations," said Funk.
Funk received a Bachelor of Science in engineering from the University of Minnesota and an MBA from The University of Minnesota – Carlson School of Management. He also has a professional certificate in innovation and technology from the Massachusetts Institute of Technology. He serves on the boards of the National Golf Foundation, The Toro Company Foundation, and Red Iron Acceptance.
About The Toro CompanyThe Toro Company (NYSE: TTC) is a leading global provider of solutions for the outdoor environment including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. With net sales of $4.6 billion in fiscal 2024, The Toro Company's global presence extends to more than 125 countries through a family of brands that includes Toro, Ditch Witch, Exmark, Spartan, BOSS, Ventrac, American Augers, Subsite, HammerHead, Radius, Perrot, Hayter, Unique Lighting Systems, Irritrol, and Lawn-Boy. Through constant innovation and caring relationships built on trust and integrity, The Toro Company and its family of brands have built a legacy of excellence by helping customers work on golf courses, sports fields, construction sites, public green spaces, commercial and residential properties and agricultural operations. For more information, visit www.thetorocompany.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250812166374/en/
Contacts
Investor Relations Jeremy SteffanDirector, Investor Relations(952) 887-7962, jeremy.steffan@toro.com
Media Relations Branden HappelSenior Manager, Public Relations(952) 887-8930, branden.happel@toro.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Entrepreneur
a few seconds ago
- Entrepreneur
Why Business Owners Should Use AI, According to Mark Cuban
Mark Cuban is really excited about AI — and probably running out of room on his phone. On a recent episode of the "Aspire With Emma Grede" podcast, billionaire entrepreneur Mark Cuban said that he thinks every business owner should be learning how to use AI by now, or at least "just asking it questions" — and if you aren't, your business could be in trouble. Grede, the co-founder of Skims and CEO of Good American, asked Cuban what he'd say to people who "don't want any more technology" in their lives. He responded that it would be like saying no to WiFi and instead sticking to dial-up Internet service. Related: Emma Grede Dropped Out of School at 16. Now the Skims Boss Runs a $4 Billion Empire. "That's like [a business] saying back in the day, 'I don't need to use a PC. I don't need to use the internet. I don't need a cell phone or WiFi,'" he said. "Those businesses died. Done." Cuban and Grede previously worked together on two seasons of "Shark Tank." When reflecting on the early days of technology, Cuban said that when he was building his business, "there was new software every day, the PCs and the networks were getting faster, and bandwidth was getting faster. And AI is the same way now." He compared the current AI rush to the invention of the personal computer. And according to what Grede told Fortune (that Cuban has 60 AI apps on his phone), he's clearly at the forefront. "We really delved into AI, [and he] gave me a new urgency around how I use AI," Grede told the outlet. "He gave me a kick." Related: Mark Cuban Spends 'Most' of His Time Using This Decades-Old Communication Method. Here's Why He Prefers It. On the podcast, Cuban said that if you want to be an entrepreneur, you need to start "playing" with AI to get a sense of how it works. Cuban noted that the technology can help businesses streamline everything from content creation to slide decks to financial reports. "Learn how to prompt; it becomes like a mentor," Cuban said. "It becomes like having an entire staff of a thousand business professors." "We're in a whole new world," he added. Related: AI Is Transforming the Workplace — Including Social Media Marketing. Here's How Businesses Can Actually Use It. Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success.
Forbes
2 minutes ago
- Forbes
5 Big Reasons Leadership Effectiveness Is Imperative In Construction
The U.S. construction industry is standing at the edge of one of the most transformative decades in its history. Fueled by a $1.2 trillion federal infrastructure package and steady private-sector demand, the market was previously projected to expand from $1.77 trillion in 2024 to more than $2.12 trillion in 2025. At the same time, advances in technology and artificial intelligence are reshaping how projects are designed, managed, and delivered, while the rapid acceleration of clean energy initiatives is fueling unprecedented demand for new infrastructure and retrofitting. Another powerful force is the surge in data center development, as the digital economy and AI adoption require massive investments in high-capacity facilities. Yet beneath this headline growth lies a paradox. While opportunity abounds, growth alone does not guarantee long-term success. The companies that thrive will not be those with the largest projects in the pipeline, but those that invest in leadership, talent development, and organizational resilience to sustain performance at scale. In short, success will not hinge on cranes and concrete. It will hinge on people. The Leadership Imperative in a High-Growth Era Construction firms are scaling at unprecedented rates, but growth exposes cracks. As companies double or triple headcount, leadership gaps widen, succession planning falters, and decision-making slows under the weight of bureaucracy. Without intentional leadership development, the very growth firms are chasing can become the catalyst for cultural erosion and stalled performance. Research consistently underscores the impact. Organizations with robust leadership pipelines enjoy 1.5 times higher employee retention and 29% higher profitability than peers that neglect leadership development. For construction firms, where projects are complex, labor markets tight, and safety paramount, the consequences of leadership neglect are magnified. True leadership development isn't about checking a box with occasional training. It's about embedding leadership competencies into every layer of the organization—from executives shaping strategy to front-line supervisors setting daily standards of excellence. This top-down approach doesn't just prepare the next generation of leaders; it ensures cultural continuity and operational alignment during periods of hypergrowth. 1 - Safety: A Cultural and Financial Lever In construction, safety is more than a compliance issue—it is a leadership issue. The industry knows that unsafe environments cost lives. What's discussed less often is how safety incidents erode profitability, damage reputation, and accelerate turnover. Consider the numbers. Safety-related costs can consume 6–9% of project budgets. Conversely, companies that embrace a safety-leadership culture—where leaders model accountability, empower crews to intervene, and create psychological safety around reporting—see incidents fall by 20–50%. That isn't just fewer accidents. It's 15–25% higher productivity, improved morale, and greater client trust. The leaders who treat safety as a cultural cornerstone—not a compliance afterthought—will differentiate themselves in a crowded market. 2 - Reducing Rework: Through Continuous Improvement Few inefficiencies are as costly to construction firms as rework. Industry studies estimate rework can account for 5–10% of total project costs. For a firm managing billions in projects, the math is staggering. The solution isn't more oversight; it's more learning. Borrowing from high-performance domains like the military and aviation, structured debriefing systems create continuous feedback loops. Teams analyze what went well, what failed, and what must change. These insights become operational improvements that cut rework and drive efficiency across projects. Companies that operationalize these practices report 30–40% reductions in rework—savings that directly impact margins and competitiveness. More importantly, these practices foster cultures of adaptability and collaboration that scale far beyond a single project. 3 - Scaling Like a Startup: Even as an Enterprise Growth in construction doesn't always resemble the disciplined pace of Fortune 500 scaling. It often looks like a startup—rapid expansion, evolving systems, and a constant push to deliver more with less. Yet even the largest construction firms are learning that agility is no longer optional. Rigid hierarchies and siloed communication create drag at precisely the moment companies must move faster. By treating growth like a late-stage startup—emphasizing agile leadership, rapid decision-making, and scalable systems—construction companies can accelerate without breaking. Evidence backs this approach. Firms adopting agile leadership practices report 60% faster decision cycles and 30% greater project delivery efficiency. In an industry where delays can erase millions in value, agility becomes a competitive weapon. 4 - The Retention Challenge: Building Careers, Not Just Jobs The talent shortage in construction is not a future concern—it's a present crisis. Nearly 40% of the skilled workforce will retire within the next decade, creating an acute need for succession planning and career development. Yet turnover remains stubbornly high, and the cost is enormous. Replacing a single frontline employee costs 16–20% of their annual salary, not to mention lost knowledge and productivity. Mid-level managers and senior position can cost closer to 100% of salary to replace. So, even small incremental improvements in employee retention can have a dramatic impact. The most competitive firms are addressing turnover not with signing bonuses alone, but with systemic investments in onboarding, mentorship, and career pathing. Employees who see a future for themselves in the company are far more likely to stay. Structured onboarding and mentoring programs, for example, can improve retention by 50% in the first 18 months and accelerate time to full productivity by 20%. For younger generations entering the workforce, culture and development opportunities matter as much as compensation. Companies that fail to address this reality will lose talent to those that do. 5 - Building a Competitive Advantage Through People When you combine these levers—leadership development, safety culture, continuous improvement, agility, and career pathing—a clear pattern emerges. The construction firms that will thrive over the next five years are those that view organizational development as a growth strategy, not a cost center. This is not hypothetical. At EXCELR8, in our partnerships with leading construction companies, embedding leadership competencies and scalable operating systems - supported by AI-powered tools - has created the foundation for multi-year sustainable growth. In other organizations, structured mentoring frameworks stabilized turnover while strengthening cultural integration across expanding teams. In still others, leadership development programs tied directly to safety initiatives helped reduce incidents on job sites and reinforce trust across the workforce. The results speak for themselves: reduced costs, stronger margins, improved morale, and the ability to seize opportunities that competitors cannot. The Call to Action for Construction Leaders The U.S. construction industry will not suffer from a lack of projects in the coming years. The greater risk is that firms will lack the leadership, culture, and systems to execute at scale. In an environment of slowing growth rates, rising costs, and fierce competition, the human side of the business becomes the decisive edge. The path forward is clear: Growth in construction is inevitable. Sustained success is not. The difference will be made by leaders willing to go beyond the blueprint and invest in what truly drives performance: their people.
Associated Press
2 minutes ago
- Associated Press
Gas valve failure during routine maintenance work may have led to fatal explosion, US Steel says
HARRISBURG, Pa. (AP) — Preparations for a routine maintenance task may have led to an explosion at a U.S. Steel coal-processing plant near Pittsburgh that left two dead and sent 10 to hospitals, the company said Friday. U.S. Steel said it developed the information, along with other investigators, from reviewing video footage and interviewing employees. That has suggested to them that the explosion happened when workers were flushing a gas valve in preparation for a routine planned maintenance task, the company said. The explosion, which heavily damaged part of the sprawling facility, started around a set of ovens where coal is baked to 1,200 degrees Fahrenheit (648.89 Celsius) into a more efficient carbon fuel called coke, a key component in steelmaking. A byproduct of processing the coal is a combustible gas called coke oven gas, made up of a lethal mix of methane, carbon dioxide and carbon monoxide. 'Pressure built inside the valve, leading to valve failure and coke oven gas filling the area and ultimately exploding when finding an ignition source,' U.S. Steel said. U.S. Steel didn't say why pressure built inside the valve or what was the ignition source. It said the investigation is in the early stages and that it will provide more information when it can. The United Steelworkers union, which represents workers killed and injured in the explosion, had no immediate comment. The massive plant along the Monongahela River in Clairton is considered the largest coking operation in North America and, along with a blast furnace and finishing mill up the river, is one of a handful of integrated steelmaking operations left in the U.S. The blast was so powerful that it sent a plume of black smoke into the sky, shook the ground and was heard by some people a mile or more away. It took hours to find two missing workers, one dead and one alive, beneath charred wreckage and rubble. The Clairton plant is nearly 110 years old. Japan-based Nippon Steel finalized its acquisition of U.S. Steel in June, winning President Donald Trump's approval after he reversed then-President Joe Biden's decision to block it. To change Trump's mind, Nippon Steel boosted its commitment to invest money into U.S. Steel's aging plants and gave the federal government a say over some matters involving domestic steel production. ___ Follow Marc Levy on X at
