Toro names new finance leader
The Toro Company (TTC) announced that Angela C. Drake, who currently serves as TTC’s vice president, finance will succeed the retiring Renee J. Peterson as vice president and chief financial officer, effective March 10, 2023.
“Angie is a proven and highly respected leader,” said Richard M. Olson, chairman and chief executive officer. “She has consistently demonstrated her ability to deliver results, maximize value for customers and drive growth.”
Drake was appointed vice president, finance in 2022 after previously serving as vice president, construction from 2020 with responsibility for the Ditch Witch, American Augers, Trencor, Hammerhead Trenchless, Subsite Electronics and Radius HDD businesses, along with corporate-owned dealers.
She joined TTC as senior managing director and integration co-lead through the Charles Machine Works (CMW) acquisition in April 2019.
As its chief financial officer, Drake was instrumental in long-term strategic planning for CMW by establishing a vision for future growth and expansion and working closely with the leadership team and board of directors, said the company.
“With a deep understanding of our culture and values, along with her extensive financial experience and acumen, I have every confidence that she will further strengthen our commitment to financial discipline and excellence,” said Olson.
Peterson, who plans to retire in July, will continue to serve the organization as vice president, finance to assist with the transition in the coming months and provide ongoing leadership for key enterprise and finance initiatives.
“Throughout her tenure, Renee’s leadership and strategic insight has helped The Toro Company achieve sustainable growth and deliver outstanding shareholder value,” said Olson. “Her vision helped shape the enterprise financial strategy, build scale and accelerate growth.”
Peterson joined TTC from Eaton Corporation in 2011 as vice president, finance and chief financial officer. She also served as treasurer from 2013 to 2020.
Bloomington, Minnesota-based Toro provides solutions for the outdoor environment including turf and landscape maintenance and reported net sales of $4.5 billion in fiscal 2022.
