HORSHAM, Pa., Jan. 8, 2013 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) ( www.tollbrothers.com ), the nation's leading builder of luxury homes, today announced the promotion of Richard T. Hartman to the position of President and Chief Operating Officer. Hartman, 56, was promoted to Executive Vice President and Chief Operating Officer in January 2012.
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=16494
Douglas C. Yearley, Jr., Toll Brothers' chief executive officer, stated: "Rick's leadership has been crucial as we have positioned the Company to prosper as the market improves. His understanding of all facets of our business provides an invaluable perspective as we expand our presence across our suburban and urban platforms serving the widest variety of luxury buyers in the industry."Robert I. Toll, Toll Brothers' executive chairman, stated: "We congratulate Rick on his promotion to President. It is very well deserved. During his thirty-two years at Toll Brothers, Rick has exemplified everything Toll Brothers is about – loyalty, integrity, passion for the business, a tremendous work ethic, and most of all, friendship." Rick Hartman began his career with Toll Brothers in 1980 and rose to increasingly senior positions in the areas of operations and purchasing including as Vice-President Operations with multi-market responsibilities in 1994. In 2002, Rick was promoted to Senior Vice President before being named Regional President in 2005. As Regional President, Rick managed home building operations across multiple markets in Toll's Western, Northeast and Mid-Atlantic regions with peak revenues of over $1 billion per year. Rick was instrumental in launching Toll Brothers' Active Adult product line and leading Toll's entry into the New York City market with the introduction of the Toll City Living brand there.