On Halloween of this year, home builder Toll Brothers' co-founder Robert I. Toll will leave his role as executive chairman of the board of directors.
With the start of the company's new fiscal year on November 1, 2018, chief executive officer and board member Douglas C. Yearley, Jr. will succeed Toll as chairman of the board. Robert Toll will remain on the board of directors as special advisor to the firm, and will receive the lifetime title of chairman emeritus, The Mercury reports. Says Toll, “When Toll Brothers was founded more than 50 years ago, I could not have imagined the company as it stands today," adding, "Doug is a tremendous leader with a successful track record of driving growth and profitability.”
“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.”