Fort Washington’s Toll Brothers is preparing for a major leadership transition as longtime executive Karl Mistry has been named the company’s next chief executive officer, writes Paul Schwedelson for The Philadelphia Business Journal.
Mistry will succeed Douglas Yearley Jr., who has led the national luxury homebuilder since 2010. Yearley will move into the role of executive chairman of the board on March 30. The transition coincides with Mistry’s first day as CEO. Mistry is a 22-year veteran of Toll Brothers. He has overseen multiple homebuilding divisions and most recently managed the company’s Eastern operations across 15 states.
The change follows a period of sustained growth for the company. Under Yearley’s tenure, Toll Brothers posted record home sales revenue of $10.8 billion in fiscal 2025. They benefited from tight resale inventory and strong demand for new construction homes.
Regulatory filings show Mistry will earn a $1 million base salary, with eligibility for up to $6.5 million in incentive compensation. Yearley, who joined Toll Brothers in 1990, is expected to earn $6.6 million annually as executive chair beginning in fiscal 2026, while continuing to guide strategic initiatives.
The succession follows other recent executive shifts, including a new CFO appointment.
To learn more about the leadership change, visit The Philadelphia Business Journal.
