The Toro Co. last week announced that Steve Wolfe, vice president of finance and chief financial officer, will retire after 27 years with the company. Wolfe will continue to serve as vice president and CFO until his retirement on July 31, to ensure a smooth transition in financial leadership.

Wolfe joined the company in 1986 as part of the acquisition of Wheel Horse Products, where he served as vice president of finance and treasurer. Following the acquisition, he was named president of Toro Credit Co. in 1990, and became vice president of finance, treasurer and CFO in 1997.

As part of the succession plan, the company has initiated a search for Wolfe's successor and has secured Crist Kolder Associates, an executive search firm in Chicago, to assist in the process. The company expects to name a successor and transition financial leadership prior to Wolfe's retirement at the end of July.

Headquartered in Bloomington, Minn., Toro is a worldwide provider of turf and landscape maintenance equipment, and precision irrigation systems.