View:
Download DOC
Download PDF
Download XLS
The Toro Company (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   June 26, 2006

The Toro Company
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 1-8649 41-0580470
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
8111 Lyndale Avenue South, Bloomington, Minnesota   55420
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   952-888-8801

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Top of the Form

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

On June 26, 2006, The Toro Company Board of Directors elected Gary L. Ellis to its Board of Directors, effective June 26, 2006.

The Board has affirmatively determined that Mr. Ellis does not have a material relationship with Toro within the meaning of the NYSE listing standards, that he is independent from management and from Toro’s independent public accounting firm, and that he is not a party to any transaction contemplated by Regulation 404(a) of the Securities and Exchange Commission’s Regulation S-K.

The election of Mr. Ellis to the Board of Directors fills a vacancy in Class I, whose term expires in 2009, and increases the size of the Board to ten members. Mr. Ellis, 49, is Senior Vice President and Chief Financial Officer of Medtronic, Inc. He is expected to be elected to serve on the Audit Committee of the Board.





Item 9.01 Financial Statements and Exhibits.

(c) Exhibits. The following exhibit is filed herewith:


Exhibit No. Description
1 Press Release dated June 28, 2006 of The Toro Company





Top of the Form

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    The Toro Company
          
June 28, 2006   By:   J. Lawrence McIntyre
       
        Name: J. Lawrence McIntyre
        Title: Vice President, Secretary and General Counsel

Top of the Form

Exhibit Index


     
Exhibit No.   Description
 
1
  press release
EX-1

The Toro Company Names Gary L. Ellis to Board of Directors

BLOOMINGTON, Minn. (June 28, 2006) – The Toro Company (NYSE: TTC) today announced that it has appointed Gary L. Ellis to its board of directors, effective June 26, 2006. The addition of Mr. Ellis brings the board to 10 members.

Ellis, 49, is senior vice president and chief financial officer of Medtronic, Inc., (NYSE: MDT), an $11.0 billion medical technology company that develops and manufactures implantable medical devices. Ellis joined Medtronic in 1989 as assistant corporate controller and has held various positions in the U.S. and Europe. Prior to joining Medtronic, Ellis was a senior audit manager for Price Waterhouse, LLP.

“Gary’s extensive experience in audit, finance and control, as well as his international experience, will provide the Board with wise counsel and valuable perspectives as we continue our journey to improve growth and profitability in the years ahead,” said Michael J. Hoffman, Toro’s chairman, president and CEO. “More importantly, Gary shares Toro’s commitment to ethical business practices and a strong culture of collaboration and alignment between business strategies and financial decisions. I am pleased to have him join our board.”

Ellis holds a bachelor’s degree in accounting from the University of South Dakota and is a certified public accountant. He is incoming board chair of the American Heart Association.

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 website at www.thetorocompany.com.

###