Toll Brothers announced this morning that CFO and board member Joel Rassman has been diagnosed with leukemia.

Rassman, who will soon begin treatment, "will continue to maintain his positions and perform his duties with the company and will continue to lead the strong department that he has built," the company said in a statement.

In his 24 years with the company, Rassman has overseen the financial, mortgage banking, accounting, internal audit, and tax operations for Toll. He was instrumental in the strategic reorganization of the company for future growth in anticipation of its initial public offering in 1986. Rassman is also responsible for Toll's banking and Wall Street relationships and guided the company through three bank consortia and six renewals, as well as 10 public subordinated debt offerings, two senior investment grade debt offerings, one convertible subordinated debt offering, and three equity offerings.