By Mike Sunnucks | Rose Law Group Reporter
Toll Brothers (which has a big single family and growing apartment footprint in the Phoenix and Scottsdale markets) has elected Scott Stowell to its board of directors.
Richard Braemer, 80, is not standing for reelection to the board and will officially step down in March 2022.
Stowell, 63, is president, founder and CEO of Capital Thirteen LLC, a real estate and angel investing advisory firm.
Stowell was previously executive chairman of CalAtlantic Group, Inc., the 5th largest U.S. home builder in 2017, Stowell oversaw the merger of CalAtlantic with Lennar Corporation and also served on Lennar’s board.
He was also CEO of Standard Pacific Homes.
Douglas Yearley, Jr., Toll Brothers chairman and chief executive officer, said: “We are very pleased and excited to welcome Scott to the Toll Brothers Board of Directors. He has a wealth of home building experience and is a proven boardroom leader and executive who has created significant value for shareholders. As we welcome Scott to our Board, we will miss the thoughtful guidance and experience that Richard Braemer has contributed to our Board since we became a public company in 1986. Along with Bob Toll, Richard is the longest serving member of our Board. We wish him all the best and are deeply appreciative of his many years of distinguished service to Toll Brothers.”