Outdoor power equipment manufacturer The Toro Company said its board of directors of elected Michael J. Hoffman, CEO of Toro, as chairman of the board.
Hoffman was elected CEO of the company and joined the board on March 15, 2005. He began his career at Toro in 1977 and served in various sales, service, marketing and general management roles for most of the company's businesses in the professional and residential segments.
Hoffman succeeds Kendrick B. Melrose who is retiring as chairman, a position he has held since 1987. Melrose also served as Toro's president from 1981 to 1983 and its CEO from 1983 until March of 2005.
The board also accepted the planned resignation of Dale Olseth, executive chairman of the board of SurModics, Inc. Olseth joined Toro's board in 1980 and played an active role on every committee during that time, most recently as lead director. While his term was set to expire in 2005, he agreed to remain on the board to provide valuable guidance during the recent leadership change.
In addition, the board acknowledged the contributions of Edwin Wingate, who did not stand for re-election. Wingate, who was previously an officer of The Toro Company, joined the board in 1989 while employed as senior vice president of human resources for Dayton-Hudson Corporation (now Target Corporation).
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