The Toro Company Announces That Peter M. Ramstad Will Join as Vice President of Business and Strategic Development
Business Editors
BLOOMINGTON, Minn.--(BUSINESS WIRE)--Oct. 11, 2006--The Toro Company (NYSE:TTC) today announced that Peter M. Ramstad will join the company as vice president of business and strategic development, effective November 28. Ramstad is currently employed by Personnel Decisions International (PDI), where he founded the firm's strategy practice and most recently served as its executive vice president-strategy and finance. The newly-created position will oversee new business growth opportunities and strategic development efforts to support the company's long-term revenue growth objectives.
Toro's Center for Advanced Turf Technology -- an internal research and development team dedicated to exploring and commercializing advanced technologies such as agronomics, alternative fuels, and robotics - will report to Ramstad. In addition, he will play an important role in Toro's leadership development, an area where he has worked with many clients and universities while at PDI, a leading firm in the field.
"Pete is a highly-regarded professional who brings broad strategic perspective to this position," said Michael Hoffman, chairman and CEO of The Toro Company. "He has worked extensively with many public companies, including Toro, to strengthen their strategic development. His expertise will serve us well as we propel the organization forward."
Ramstad holds an undergraduate degree from the University of Minnesota and has completed significant coursework toward a Ph.D. in Accounting from the Carlson School of Management. He has been published in Harvard Business Review and other periodicals.
About The Toro Company
The Toro Company (NYSE:TTC) is a leading worldwide provider of outdoor beautification products, support services and integrated solutions. With sales of $1.8 billion in 2005, Toro is committed to providing environmentally responsible products of customer-valued quality and innovation. Since 1914, the company has built a tradition of excellence around a number of strong brands that serve a customer base that includes golf course superintendents, groundskeepers, sports field managers, landscape and irrigation contractors, fruit and vegetable growers, and homeowners. The Toro Company is headquartered at 8111 Lyndale Avenue in Bloomington, Minn. Visit the company Web site at www.thetorocompany.com.
CONTACT: The Toro Company Lynde Sorensen, 952-887-8584 lynde.sorensen@toro.com SOURCE: The Toro Company