Todd first step uses the Bolzano-Weierstrass Theorem (BWT) for closed discs in $\mathbb{C}$. At first sight, this requires $\mathsf{ACA}_0$ but the point is to show that $|f(z)|$ attains a minimum value. The weaker subsystem $\mathsf{WKL}_0$ already proves that every continuous real-valued function on a totally bounded complete metric space attains a minimum value [Simpson Theorem IV.2.2].
Steps 2 and 3 The remaining parts of Todd's proof are direct computations, so now we have a proof in $\mathsf{WKL}_0$. Since the Extreme Value Theorem is equivalent to $\mathsf{WKL}_0$ over $\mathsf{RCA}_0$ [Simpson Theorem IV.2.3] it seems that we can't do much better. This would be the case if $f(z)$ were an arbitrary continuous function, but polynomials aren't arbitrary at all!