Toll Brothers (TOL) Appoints Derek T. Kan to its Board

Toll Brothers, Inc. (NYSE: TOL) , the nation’s leading builder of luxury homes, today announced that Derek T. Kan has joined the Company’s Board of Directors. Mr. Kan, age 43, currently leads business operations and strategy for Deliverr Inc., a startup focused on e-commerce fulfillment. Previously, he held a number of high-level positions in the Federal government, including as Deputy Director of the White House Office of Management and Budget and as Under Secretary at the U.S. Department of Transportation, where he served as a principal advisor to the Secretary and spearheaded initiatives involving technology and innovation in the transportation sector. He has also been announced as a nominee to serve on the bipartisan United States Postal Service Board of Governors. Prior to his recent public service, Mr. Kan held various positions focused on emerging technologies, including as the General Manager for Lyft and Director of Strategy for GenapSys, a technology company focused on advancing genomic sequencing research. Earlier in his career, Mr. Kan was a policy advisor to the former Senate Majority Leader and was a Presidential Management Fellow at the White House Office of Management and Budget. Mr. Kan currently serves as a Board Advisor for Oaktree Capital on the board of directors of Rand Logistics, and previously served as a member of the board of directors of Amtrak from January 2016 through July 2019. Mr. Kan received a B.S. degree from the University of Southern California, an M.Sc. from the London School of Economics, and an M.B.A. from the Stanford Graduate School of Business, where he was an Arjay Miller Scholar.

Douglas C. Yearley, Jr., chairman and chief executive officer, stated: “We are very excited 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 at various organizations will prove to be valuable assets for our Board. With the recent additions to our Board, including six new members since March 2016, we have greatly expanded the diversity of perspectives, skills and backgrounds that are represented on our Board. Combined with our existing directors’ deep experience and knowledge of the company and homebuilding industry, our Board is well positioned to continue leading Toll Brothers as we execute on our growth strategies.”

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