Ample rain, healthy green lawns and preorders for snow equipment helped Toro Co. deliver a strong quarter that beat expectations and allowed it to raise its full-year guidance, company officials said Thursday, a day after the company announced a significant leadership change.
Toro Co. promoted veteran executive Richard M. Olson to the role of president and chief operating officer, a move that positions him in line as a likely successor to chief executive and chairman Michael J. Hoffman.
Olson, 51, joined Toro 29 years ago and is currently its group vice president of international and micro-irrigation businesses and the head of global distributor development.
In his new role, Olson will oversee all Toro businesses and global operations and continue reporting to Hoffman.
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