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The Toro Company Names Judy Altmaier Vice President of Operations


  • Press Release
  • Source: The Toro Company
  • On 8:30 am EDT, Tuesday October 20, 2009

BLOOMINGTON, Minn.--(BUSINESS WIRE)--The Toro Company (NYSE: TTC - News) today announced that Judy Altmaier has joined the company as vice president, operations. She succeeds Sandy Meurlot, who is retiring after seven years with the company.

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In her new position, Altmaier assumes responsibility for all manufacturing operations in North America with indirect oversight for international manufacturing and distribution facilities. Prior to Toro, she was with Eaton Corporation where she most recently served as vice president and general manager of operations for the Auto Group Americas.

Additionally, as required by New York Stock Exchange (NYSE) rules, the company today reported the grant of restricted stock to Altmaier. The Board of Directors of The Toro Company awarded 4,752 restricted shares of common stock, par value $1.00, to Altmaier as an employment inducement award.

The restricted stock will vest in full on the third anniversary of Altmaier’s first day of employment with Toro and may vest earlier upon the occurrence of certain events, including death or disability or a change of control of Toro. In the event that Altmaier voluntarily terminates her employment prior to her third anniversary with Toro, the entire restricted stock grant will be forfeited and the shares will be returned to Toro's treasury account.

In accordance with NYSE Rule 303A.08, this employment inducement stock award requires a public announcement of the award and written notice to the NYSE.

About The Toro Company

The Toro Company (NYSE: TTC - News) is a leading worldwide provider of turf and landscape maintenance equipment, and precision irrigation systems. With sales of nearly $1.9 billion in fiscal 2008, Toro’s global presence extends to more than 140 countries through its reputation of world-class service, innovation and turf expertise. Since 1914, the company has built a tradition of excellence around a number of strong brands to help customers care for golf courses, sports fields, public green spaces, commercial and residential properties, and agricultural fields. More information is available at www.thetorocompany.com.

Contact:

The Toro Company
Investor Relations
John Wright, 952-887-8865
Director, Investor Relations
invest@toro.com
or
Media Relations
Branden Happel, 952-887-8930
Manager, Public Relations
pr@toro.com

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