Michael J. Hoffman, chairman of the board, will retire from the company's board of directors, effective November 3, 2017. Toro President and CEO Richard M. Olson has been elected chairman, effective upon Hoffman's retirement.
Toro reports a net sales increase of 1.2% for the 2016 second quarter and 1.7% for the first six months. Revenue growth for fiscal 2016 is expected to be flat to up 2%.
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