The Toro Company said Steve Wolfe, vice president of finance and chief financial officer, will retire after 27 years with the company. Wolfe will continue to serve as vice president and CFO until his retirement date of July 31, 2011.
As part of the succession plan, the company has initiated a search for Wolfe's successor and has secured Cristâ"eKolder Associates, an executive search firm based in Chicago, to assist in the process. The company expects to name a successor and transition financial leadership prior to Wolfe's retirement at the end of July.
Wolfe joined the company in 1986 as part of the acquisition of Wheel Horse Products, Inc., where he served as vice president of finance and treasurer. Following the acquisition, he was named president of Toro Credit Company in 1990 and became vice president of finance, treasurer and CFO in 1997.
"On behalf of our Board of Directors and all our employees, I would like to thank Steve for his outstanding service and the significant contributions he made to the company during his tenure," said Michael J. Hoffman, Toro's chairman and chief executive officer. "Steve has been instrumental in improving Toro's financials over the past decade, building a strong finance organization, and helping create a culture of financial discipline across the company. His efforts will benefit Toro well into the future."
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