June 19, 2009 (FinancialWire) — PHH Corp. (NYSE: PHH) has appointed George J. Kilroy its as acting chief executive officer and president and James O. Egan as chairman of the company’s board.

Kilroy, a 33 year veteran of PHH, has served as president and CEO of PHH Arval, the company’s fleet management services business, since March 2001. He succeeds Terence W. Edwards, who has stepped down as president and CEO effective June 17, and will serve as an advisor to PHH for up to six months to ensure a smooth leadership transition.

The company’s board has launched a search for a permanent president and CEO that will include internal and external candidates.

Egan joined the PHH board on March 30, and was reelected by the shareholders on June 12 to serve as class I director for a three-year term. He was previously a managing director of Investcorp International, an alternative asset management firm specializing in private equity, hedge fund offerings, and real estate and technology investments, from 1998 through 2008.

Mount Laurel, New Jersey-based PHH is an outsource provider of mortgage and vehicle fleet management services. Its subsidiary, PHH Mortgage, is a retail originators of residential mortgages in the United States. Its PHH Arval subsidiary is a fleet management services provider in the United States and Canada.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.