New Toll Brothers CEO optimistic about market

Douglas Yearley was just a child when the man he's replacing as the chief executive of Toll Brothers Inc. launched what would become the nation's largest luxury homebuilder. That's more than 40 years of professional experience that Yearley will have to live up to when he officially takes the job on Wednesday. Yearley has spent the past 20 years working for Robert Toll, who is staying on as executive chairman. By Yearley's account, he and Toll have racked up more than 800 Monday nights together in strategy sessions that dragged late into the evening, the stints helping to groom him along the way for the top job. The executive changeover is a milestone for the company, which has had Robert Toll as its CEO since he and his brother, Bruce, who is vice chairman, founded the company in 1967. That Yearley, 50, is even working in homebuilding stems from a passion he developed for home renovation projects after he became disillusioned with a career in law.

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