# Richard Olson

> Richard M. Olson, known as Rick, is chairman and chief executive officer of The Toro Company. He joined as a manufacturing process engineer in 1986, led Exmark and international businesses, became CEO in 2016 and chairman in 2017, and is scheduled to become executive chairman on November 1, 2026. His tenure includes expansion into underground infrastructure and investment in autonomous equipment.

- **Role:** Chairman of the Board and Chief Executive Officer at The Toro Company
- **Organizations:** The Toro Company, Donaldson Company, Inc., University of Minnesota Carlson School of Management
- **Education:** Bachelor of Science in Industrial Technology, Iowa State University, MBA, University of Minnesota Carlson School of Management
- **Known for:** Rose from manufacturing process engineer to CEO within The Toro Company., Led Toro as CEO from November 2016; added the board chairmanship in November 2017., Oversaw expansion into underground construction through the 2019 Charles Machine Works acquisition.

## Career timeline

- **1986** — Joined The Toro Company as a manufacturing process engineer in Windom, Minnesota.
- **2010** — Became general manager of Exmark; earned a Carlson School MBA.
- **2012** — Appointed vice president of Exmark.
- **2013** — Became vice president of International Business.
- **2014** — Became group vice president overseeing International Business, Micro-Irrigation and Distributor Development.
- **2015** — Became president and chief operating officer, effective September 1.
- **2016** — Became chief executive officer, effective November 1.
- **2017** — Became chairman of the board in November.
- **2019** — Toro acquired Charles Machine Works, including Ditch Witch, during his CEO tenure.
- **2022** — Joined Donaldson Company’s board.
- **2026** — Scheduled to become executive chairman on November 1 as Edric Funk succeeds him as CEO.

## Achievements

- Rose from manufacturing process engineer to CEO within The Toro Company.
- Led Toro as CEO from November 2016; added the board chairmanship in November 2017.
- Oversaw expansion into underground construction through the 2019 Charles Machine Works acquisition.
- Led the company during investments in autonomous turf and snow management capabilities.

## Latest updates

- **2026-09** — Toro reported fiscal third-quarter net sales of $1.2258 billion, up 8.4% year over year, and raised full-year guidance.
- **2026-07** — Toro announced that Edric Funk will succeed Olson as CEO on November 1, 2026, with Olson becoming executive chairman.
- **2025-10** — Discussed culture, AI and autonomous equipment with Chris Farrell at Carlson’s 1st Tuesday event.

## Links

- Website: https://www.thetorocompany.com/management/richard-olson
- LinkedIn: https://www.linkedin.com/in/richard-olson-417770a

---

Profile page: https://yespress.io/richard-olson
Published by YesPress — https://yespress.io
Last updated: 2026-10-24