Toll Brothers chairman stepping aside at year’s end
HORSHAM >> Robert I. Toll, cofounder of home builder Toll Brothers Inc., will step down from his role as executive chairman of the Board of Directors at the end of the company’s fiscal year on Oct. 31, 2018.
In making the announcement Thursday, the company said Douglas C. Yearley Jr., 58; Toll Brothers chief executive officer and member of the Board of Directors, has been elected to succeed Toll as chairman of the Board.
Toll, 77, will remain a member of the Board of Directors and will serve as a special advisor to the company. Effective Nov. 1, he will be given the lifetime title of chairman emeritus of the Board.
“Bob Toll’s vision has skillfully guided Toll Brothers for over 50 years, during which he has become a nationally recognized leader in the homebuilding industry,” Yearley said. “On behalf of our Board and current and former employees, I want to thank Bob for his visionary leadership and the strong foundation he has built for our company. I also want to personally thank him for his guidance and strong support over the 28 years that I have been with the company. As we look to the future, I am grateful that we will continue to benefit from Bob’s knowledge, experience and counsel in his role as director and strategic advisor.”
“Bob Toll’s vision has skillfully guided Toll Brothers for over 50 years, during which he has become a nationally recognized leader in the homebuilding industry.” — Douglas C. Yearley, CEO, Toll Brothers
“When Toll Brothers was founded more than 50 years ago, I could not have imagined the company as it stands today,” Toll said. “Doug Yearley’s appointment to the role of chairman of the Board of Directors represents the culmination of the leadership transition process we began when Doug assumed the position of chief executive officer in 2010. Doug is a tremendous leader with a successful track record of driving growth and profitability.”
Horsham-based Toll Brothers Inc. began business in 1967 and became a public company in 1986. It operates in 22 states, as well as
in the District of Columbia. The company builds
luxury residential singlefamily detached, attached home, master planned resort-style golf, and urban low-, mid-, and high-rise communities — principally on land it develops and improves.
The company acquires and develops rental apartment and commercial properties through Toll Brothers Apartment Living, Toll Brothers Campus Living
and the affiliated Toll Brothers Realty Trust, and develops urban low-, mid-, and high-rise for-sale condominiums through Toll Brothers City Living.
Through its Gibraltar Real
Estate Capital joint venture, the company provides builders and developers with land banking, non-recourse debt and equity capital.