Toll Brothers, Inc. (NYSE:TOL) (www.tollbrothers.com), the nation's
leading builder of luxury homes, today announced that Bruce E.
Toll, Vice Chairman of the Board of Directors of Toll Brothers, has
chosen to retire from its Board of Directors, effective on the date
of the Company's annual meeting of stockholders, March 8, 2016.
In 1967, at the age of 23, Bruce Toll co-founded, with his
brother Bob, what is now Toll Brothers, Inc. Begun as a local home
building company in the Philadelphia suburbs, the Company went
public in 1986 on the New York Stock Exchange and is now the
largest luxury home building company in the United States.
During its forty-nine years, the Company has won the National
Housing Quality Award, been named America's Best Builder, and been
a two-time winner of the Professional Builder of the Year
Award. In that time, the Company has expanded across the
nation and delivered over 100,000 homes.
Douglas C. Yearley, Toll Brothers' chief executive officer,
stated: "Bruce's business skill, financial acumen, and tremendous
management capability, have been integral to growing Toll Brothers
to our current position. Having been at the Company myself
for nearly twenty-six years, I would like to express, on behalf of
all Toll Brothers associates, gratitude to Bruce for his great
contributions to the Company."
Robert I. Toll, Toll Brothers' executive chairman, stated: "When
my brother Bruce and I started Toll Brothers nearly fifty years
ago, we could never have dreamed that the Company would be what it
is today. Bruce's management strength is matched by an
entrepreneurial drive that has enabled him to build a diverse
business empire, encompassing investments in industries such as
real estate, auto, energy, telecommunications, and healthcare.
I thank Bruce for his tremendous contributions to Toll
Brothers and wish him continued great success in his
endeavors."
Bruce E. Toll stated: "I am so proud of what Toll Brothers has
accomplished in the last fifty years and appreciate the excellent
work of all Toll Brothers associates during what has been an
extraordinary journey."
Toll Brothers, Inc., a Fortune 1000 Company, is the nation's
leading builder of luxury homes. The Company began business in 1967
and became a public company in 1986. Its common stock is
listed on the New York Stock Exchange under the symbol
"TOL." The Company serves move-up, empty-nester, active-adult,
and second-home buyers and operates in 19 states: Arizona,
California, Colorado, Connecticut, Delaware, Florida, Illinois,
Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey,
New York, North Carolina, Pennsylvania, Texas, Virginia, and
Washington, and in the District of Columbia.
Toll Brothers builds an array of luxury residential
single-family 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 operates its own
architectural, engineering, mortgage, title, land development and
land sale, golf course development and management, home security,
and landscape subsidiaries. The Company also operates its own
lumber distribution, house component assembly, and manufacturing
operations. The Company purchases distressed loan and real
estate asset portfolios through its wholly owned subsidiary,
Gibraltar Capital and Asset Management. The Company acquires and
develops commercial and apartment 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.
Toll Brothers was recently named as the Most Admired Home
Building Company in Fortune magazine's survey of the World's Most
Admired Companies for 2016, Toll Brothers was named 2014 Builder of
the Year by Builder magazine, and is honored to have been awarded
Builder of the Year in 2012 by Professional Builder magazine,
making it the first two-time recipient. Toll Brothers proudly
supports the communities in which it builds; among other
philanthropic pursuits, the Company sponsors the Toll Brothers
Metropolitan Opera International Radio Network, bringing opera to
neighborhoods throughout the world. For more information, visit
www.tollbrothers.com.
Toll Brothers discloses information about its business and
financial performance and other matters, and provides links to its
securities filings, notices of investor events, and earnings and
other news releases, on the Investor Relations section of its
website (tollbrothers.com/investor_relations).
CONTACT: Frederick N. Cooper (215) 938-8312
fcooper@tollbrothersinc.com
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