FORT WASHINGTON, Pa., December 14, 2021 (GLOBE NEWSWIRE) – Toll Brothers, Inc. (NYSE: TOL) (tollbrothers.com), the nation’s leading luxury home builder, today announced that Derek T. Kan has joins the board of directors of the company. Mr. Kan, 43, currently leads business operations and strategy for Deliverr Inc., a startup focused on e-commerce execution. Previously, he held a number of senior positions in the federal government, including as Deputy Director of the White House Office of Management and Budget and as Under Secretary in the US Department of Transportation, where he was Senior Advisor to the Secretary and led initiatives involving technology and innovation in the transport sector. He was also announced as a candidate for a seat on the bipartisan Board of Governors of the United States Postal Service. Prior to his recent public service, Mr. Kan held various positions focused on emerging technologies, including serving as Managing Director of Lyft and Chief Strategy Officer of GenapSys, a technology company focused on advancing genomic sequencing research. . Earlier in his career, Mr. Kan served as political adviser to the former Senate Majority Leader and a member of the presidential leadership in the White House’s Office of Management and Budget. Mr. Kan is currently the Oaktree Capital Board Advisor to the Rand Logistics Board of Directors, and previously served on the Amtrak Board of Directors from January 2016 to July 2019. Mr. Kan has a science degree from the University of Southern California, an M.Sc. from the London School of Economics and an MBA from the Stanford Graduate School of Business, where he was an Arjay Miller Fellow.
Douglas C. Yearley, Jr., President and CEO, said, âWe are very pleased to welcome Derek to the Toll Brothers Board of Directors. His extensive experience at the highest levels of government and his understanding of how new technologies and innovative solutions are implemented in various organizations will prove to be invaluable assets for our Board of Directors. With recent additions to our Board of Directors, including six new members since March 2016, we have significantly expanded the diversity of perspectives, skills and backgrounds that are represented on our Board of Directors. Combined with the in-depth experience and knowledge of the business and the residential construction industry of our current directors, our Board of Directors is well positioned to continue to lead Toll Brothers as we execute our strategies. growth.
About Toll Brothers
Toll Brothers, Inc., a FORTUNE 500 company, is the nation’s leading builder of luxury homes. The company was founded over 50 years ago 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 first-time home buyers, moving house, empty nest, active adult and second home buyers, as well as urban and suburban tenants. Toll Brothers built in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina , Tennessee, Texas, Utah, Virginia and Washington, as well as in the District of Columbia. The Company operates its own subsidiaries in architecture, engineering, mortgage, title, land development, golf course development, smart home technology and landscaping. The Company also operates its own lumber distribution, home component assembly and manufacturing businesses.
2021 marks the 10th year that Toll Brothers has been on FORTUNE Magazine’s World’s Most Admired Companies list. Toll Brothers was also honored as Builder of the Year by Builder Magazine and is the first two-time Builder of the Year recipient by Professional Builder Magazine. For more information, visit TollBrothers.com.
Toll Brothers discloses information on its business and financial performance and other matters, and provides links to its securities filings, investor event notices, results and other press releases, in the Corporate Relations section. investors from its website (investors.TollBrothers.com).
This press release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate to matters of a strictly historical or factual nature and deal with or concern generally to future events. These statements contain words such as “anticipate”, “estimate”, “expect”, “plan”, “intend”, “plan”, “believe”, “may”, “may”, ” could â,â could â,â could â,â should â,â probably â,â will âand other words or expressions having similar meanings. These statements may include, but are not limited to, information and statements regarding: the impact of Covid-19 on the US economy and our business; expectations regarding interest rates and inflation; the markets in which we operate or may operate; our strategic objectives and priorities; our priorities for land acquisition, land development and capital allocation; housing market conditions; demand for our homes; expected operating results and directions; home deliveries; financial resources and conditions; changes in income; changes in profitability; evolution of margins; changes in accounting treatment; cost of income, including expected labor and material costs; Selling expenses, general and administrative expenses; interest charges; inventory write-downs; residential warranty and construction defect claims; unrecognized tax benefits; advance tax refunds; sales rhythms and prices; effects of cancellations from home buyers; growth and expansion; joint ventures in which we are involved; the expected results of our investments in non-consolidated entities; our ability to acquire or dispose of land and to seek real estate opportunities; our ability to gain approvals and open up new communities; our ability to market, build and sell homes and properties; our ability to deliver homes from the backlog; our ability to secure materials and subcontractors; our ability to generate the liquidity and capital necessary to conduct normal business operations or to grow and take advantage of opportunities; and the outcome of legal proceedings, investigations and complaints.
All or part of the forward-looking statements included in this press release are not guarantees of future performance and may prove to be inaccurate. This can happen as a result of incorrect assumptions or as a result of known or unknown risks and uncertainties. The main risks and uncertainties – and assumptions made – that affect our business and may cause actual results to differ from these forward-looking statements include, but are not limited to:
the effects of the ongoing Covid-19 pandemic, which remain highly uncertain, cannot be predicted and will depend on future developments, including the duration of the pandemic, the impact of mitigation strategies adopted by applicable government authorities, the continued availability and efficacy of vaccines, adequate tests and therapeutic treatments and the prevalence of generalized immunity to Covid-19; the effect of general economic conditions, including employment rates, housing starts, interest rate levels, the availability of financing for mortgages and the strength of the US dollar; market demand for our products, which is related to the strength of the various US business segments and to US and international economic conditions; the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such land; access to adequate capital on acceptable terms; geographic concentration of our operations; levels of competition; the price and availability of lumber, other raw materials, household components and labor ‘work ; the effect of US trade policies, including the imposition of tariffs and duties on residential construction products and retaliatory actions taken by other countries; the effects of weather conditions and the risk of losses from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays , reduced consumer demand, and the shortages and price increases of labor or materials associated with such natural disasters; the risk of loss from acts of war, terrorism or epidemics of contagious diseases, such as Covid-19; federal and state tax policies; transport costs; effect of land use, environment and other government laws and regulations; legal proceedings or disputes and adequacy of reserves; risks associated with any unforeseen changes or the effects on liabilities, future capital expenditures, income, expenses, profits, indebtedness, financial condition, losses and future prospects; the effect of the potential loss of key management personnel; changes in accounting principles; risks associated with unauthorized access to our computer systems, theft of our confidential information and that of our home buyers or other forms of cyber attack; and other factors described in the âRisk Factorsâ section included in our Annual Report on Form 10-K for the fiscal year ended October 31, 2020 and in subsequent filings that we make to the Securities and Exchange Commission (âSEC “).
Many of the factors mentioned above or in other reports or public statements we make will be important in determining our future performance. Therefore, actual results may differ materially from those that could be anticipated from our forward-looking statements.
Forward-looking statements speak only as of the date on which they are made. We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information on the factors that we believe could cause actual results to differ materially from expected and historical results, see the information under the headings “Risk Factors” and “Management’s Discussion and Analysis and Analysis. financial condition and results of operations âin our most recent Annual Report on Form 10-K filed with the SEC and in subsequent reports filed with the SEC. This discussion is provided in accordance with the Private Securities Litigation Reform Act of 1995, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in this section.
CONTACT: Frederick N. Cooper (215) 938-8312 [email protected]