PHH Corporation names Jerry Selitto President and CEO
October 28, 2009
The Board of Directors of PHH Corporation has announced that Jerome J. Selitto has been named President and Chief Executive Officer and appointed to the Board of Directors, effective immediately. George Kilroy, who in June had stepped in on an interim basis as Acting President and CEO of PHH Corporation, will continue to lead PHH Arval, the company’s fleet management business, and serve as a member of the company’s Board of Directors.
Mr. Selitto brings to PHH nearly 40 years of experience in the mortgage industry and in capital markets, as well as a long and successful track record of building companies that have created value by transforming key sectors of the home lending market.
Jim Egan, Chairman of the PHH Corporation Board of Directors said, “Jerry Selitto is an innovative leader with a proven ability to drive change in an organization and execute transformational strategies that create value for its stakeholders. Jerry was the architect of two companies in the mortgage industry that created distinctive competitive advantages, found innovative and cost-efficient ways to serve their customers and created new opportunities to generate revenue. We are confident that his strategic vision, leadership ability and experience re-designing corporate processes will drive increased value across our mortgage and fleet management businesses and help take PHH to a new level of success.”
Mr. Egan continued, “I want to thank George Kilroy for his strong leadership and tireless efforts during this period of transition. With George’s leadership, PHH has continued to adapt to changing market conditions and increase efficiency in a very difficult environment. We appreciate George taking on this challenge and look forward to his continued leadership of our fleet management business and his ongoing input as a member of PHH’s senior leadership team and Board of Directors.”
