He will continue to serve the company as Chairman Emeritus and, in that role, will be invited to attend board meetings and continue to provide support and advice to the business.
Speaking about his decision, Robert I. Toll stated: “While I felt it was time to step back from a formal Board role at Toll Brothers, my interest in the company remains strong. Since my brother and I founded the company 55 years ago, it has grown from a small Philadelphia homebuilder to a branded national presence as America’s Luxury Home Builder. Along the way, we built a strong organization of dedicated, motivated associates with a culture devoted to our customers. I look forward to the continued growth of the company and providing support and advice to management and the Board in the future.”