Credit: Toll Brothers.
Fort Washington–based Toll Brothers is preparing for a leadership transition that will take effect in early 2026, as longtime CEO Douglas Yearley Jr. steps into a new role and a company veteran takes the helm.
The company announced that Yearley will move from chairman and chief executive officer to executive chairman of the board on March 30, 2026. In that role, he will continue to be involved in guiding the company’s strategy and supporting the leadership transition.
Karl Mistry, who has worked at Toll Brothers for more than two decades, has been selected as the company’s next chief executive officer and will also join the board of directors. Mistry currently serves as executive vice president and oversees Toll Brothers’ homebuilding operations across 15 eastern states.
Yearley has been with Toll Brothers since 1990 and has served as CEO since 2010, overseeing significant growth as the company expanded into dozens of markets nationwide. Toll Brothers is now active in more than 60 markets across 24 states and is known as one of the country’s largest luxury homebuilders.
Mistry joined the company in 2004 through its executive training program and has held a series of leadership roles, including division and regional president positions, before rising to his current executive role.
Company officials said the move is part of a long-term succession plan and reflects a focus on continuity as Toll Brothers continues its operations nationwide from its headquarters in Fort Washington.
