Toll Brothers Inc. (NYSE: TOL) announced that Seth J. Ring will succeed Robert Parahus as president and chief operating officer, effective June 30, 2026. Ring will also join the company's board of directors.

Ring, currently executive vice president, has worked at Toll Brothers for 22 years. He began as an assistant project manager in the Southern California division in 2004 and was promoted to division president of Southern California in 2014. Ring played a role in the company's $1.6 billion acquisition of Shapell Homes in 2013 and its integration.

In his current position since 2021, Ring manages homebuilding operations across eight western states including Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, and Washington. He holds a bachelor's degree in urban studies with a focus on architecture from Stanford University.

Parahus, who has worked at Toll Brothers for 40 years, will retire but continue serving as a senior advisor to facilitate the transition and provide strategic counsel to the executive team.

"Seth is also a proven leader with over two decades of experience at the Company, and he is the perfect person to succeed Rob in this role," said Douglas C. Yearley Jr., executive chairman of Toll Brothers, according to the company's statement.

The Fort Washington, Pennsylvania-based company builds luxury homes in more than 60 markets across the United States and operates architectural, engineering, mortgage, title, land development and other related businesses.