Toll Brothers CFO Rassman Passes Away

Luxury homebuilder Toll Brothers announced Tuesday its longtime chief financial officer, Joel Rassman, has passed away.

Rassman started with the company in 1984, according to a company release.

"As we announced in December of 2008, he [Rassman] faced serious illness," chairman of the board Robert Toll said. "We are heartbroken that Joel has left us."