The Toro Company Establishes Endowed Faculty Chair to Honor David Lilly
Wednesday, May 27, 2015
Professor Theresa Glomb of the Work and Organizations department has been appointed to The Toro Company-David M. Lilly Chair in Human Resources. The Toro Company has established the Chair to honor the legacy of David M. Lilly, the company's fourth president and former dean of the Carlson School of Management.
"David was a true visionary and legendary leader that literally transformed our company and the industries we serve,” says Toro Chairman and CEO Michael J. Hoffman. “He exemplified our culture through the personal value he placed on others, and his relentless commitment to research and innovation. Beyond Toro, he gave tirelessly of his time and efforts to the academic community, along with countless civic and philanthropic causes. Through the establishment of this chair ... we want to recognize David’s tremendous contributions to all of those he influenced and continue his legacy for years to come.”
The endowed chair is established through a grant of $2 million from The Toro Company and Melrose/Toro Community Fund. The grant will go to assisting the University of Minnesota in recruiting and retaining outstanding faculty members in the Carlson School, and help further support advancements in teaching, research and service.
“David was a man who provided positive energy wherever he went,” says University of Minnesota President Eric Kaler. "The University of Minnesota benefitted greatly from his time, experience and leadership. And, while Minnesota has lost a titan, his legacy lives on and will continue to have an impact on others.”
“While more than 30 years ago, David’s role as dean of the Carlson School is still felt today,” says Carlson School Dean Sri Zaheer. “Among his many contributions, David helped create close partnerships with the Twin Cities corporate community, a seminal development that continues to serve as the foundation of the school’s success and global reach.”
Serving as Toro’s president for nearly two decades (1950-1968), Lilly also held the position as Toro’s chairman until 1976 when he went to Washington D.C. to serve as governor of the Federal Reserve Board. At the end of his term, he returned to the Twin Cities and became Dean of what now is the Carlson School before later being appointed as the University’s vice president for finance and operations.
Toro’s relationship with the University of Minnesota dates back to 1930 when, at the University’s request, Toro built a power roller for their tennis courts. Over the years, Toro has continued its long-standing partnership with the University collaborating on research in areas such as turf-grass and water use efficiency, supporting graduate students, donating equipment to the turf management program and engaging in advisory boards, among other efforts.
At an event held at the company’s headquarters in Bloomington, Minn. on May 27, Toro also made the official dedication of the David M. Lilly Learning Center in further recognizing Lilly’s leadership and lifelong passion for learning.
About The Toro Company
The Toro Company (NYSE: TTC) is a leading worldwide provider of innovative solutions for the outdoor environment including turf, snow and ground engaging equipment, and irrigation and outdoor lighting solutions. With sales of $2.2 billion in fiscal 2014, Toro’s global presence extends to more than 90 countries. Through constant innovation and caring relationships built on trust and integrity, Toro and its family of brands have built a legacy of excellence by helping customers care for golf courses, landscapes, sports fields, public green spaces, commercial and residential properties and agricultural fields.