This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

PHH Corporation Announces Changes To Board Of Directors

PHH Corporation (NYSE: PHH) (“PHH” or the “Company”) today announced the appointment of Charles P. Pizzi, former President and CEO of Tasty Baking Company and recently retired Chairman of the Federal Reserve Bank of Philadelphia, to its Board of Directors, effective January 26, 2012. In addition, James W. Brinkley, a director since January 31, 2005, has informed the Board of Directors of his intention to retire from the Board as of June 30, 2012.

Jim Egan, Non-Executive Chairman of the Board of PHH, said, “We are very pleased to announce the appointment of Charlie Pizzi to our Board. He is a highly regarded business leader who brings more than 30 years of experience to the PHH Board of Directors. His perspectives and skills in organizational development and business strategy will be invaluable to PHH as we build on the market leadership positions of our businesses.”

Mr. Pizzi will serve as a Class III director and as a member of the Board’s Human Capital and Compensation Committee.

Mr. Brinkley, 74, has served on the PHH Board since the spin-off of PHH from Cendant Corporation in 2005, and has served on the Corporate Governance and Human Capital and Compensation Committees.

Mr. Egan continued, “The Board joins me in thanking Jim Brinkley for the very significant contributions he has made to the Board and to PHH. His management and leadership experience was an invaluable guide during a critical time in the development of our company. His wisdom and sound business judgment helped PHH maintain its industry leadership position in both its fleet and mortgage businesses during some very difficult and challenging economic times. We are extremely grateful to Jim for all that he has done and wish him the very best.”

Background on Charles P. Pizzi

Mr. Pizzi, 61, was a member of the Board of Directors of the Federal Reserve Bank of Philadelphia from 2006 through 2011 and served as its Chairman from 2010 through 2011. He served as the President and Chief Executive Officer of Tasty Baking Company from 2002 until its merger with Flowers Foods, Inc. in 2011. While at Tasty Baking Company, Mr. Pizzi transformed the company into the world’s largest “green” bakery and was awarded the 2010 Baker of the Year Award. From 1989 to 2002, Mr. Pizzi was the President and Chief Executive Officer of the Greater Philadelphia Chamber of Commerce, where he tripled the revenues of the Chamber during his 14-year tenure. Mr. Pizzi currently serves on the boards of Brandywine Realty Trust (NYSE: BDN), Allied Barton Security Services, Independence Blue Cross and FS Energy and Power Fund. Mr. Pizzi holds a B.S. in Business Administration from LaSalle University and an M.S. from the University of Pennsylvania.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs