Doug Yearley—Toll Brothers CEO since 2010—is stepping down and being replaced by Karl Mistry

“Having joined Toll Brothers in 1990 and in his position as CEO since 2010, Doug Yearley has expertly led the Company through a significant period of growth and value creation, and we are grateful for his leadership.”

“It has been an honor to serve as Chief Executive Officer of Toll Brothers.”

“I am truly grateful to have had the privilege to work side-by-side with so many talented people to deliver the American Dream to thousands of clients every year and expand our luxury brand into new markets and price points across the country. I am also very pleased that our Company’s strong culture of cultivating and teaching the next generation of leadership is coming full circle today with this announcement.”

“Karl is an outstanding leader. His management skills are extraordinary and the breadth of experience he has gained over the past two decades at Toll Brothers has prepared him well for the CEO role. Karl has honed his skills in both strong markets and challenging ones. He has run numerous homebuilding divisions and has overseen our expansion into several major markets. Most recently, he has had responsibility for our Eastern operations across 15 states. With Karl at the helm partnering with our other seasoned leaders and operating teams, the Company's future is in excellent hands, and I am excited to continue to be a part of it in my new role as Executive Chairman.”