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Executive Profiles |
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| Executive Officers | Board of Directors | Composition of the Board | Non-Executive Chairman |
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Executive Officers of PHH Corporation
The following sets forth certain information with respect to those persons who are the executive officers of PHH. |
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| Terence W. Edwards |
President and Chief Executive Officer |
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| Neil J. Cashen |
Executive Vice President and Chief Financial Officer;
Chief Financial Officer — PHH Arval |
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| George J. Kilroy |
President and Chief Executive Officer — PHH Arval |
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| Joseph E. Suter |
President and Chief Executive Officer — PHH Mortgage |
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| Mark R. Danahy |
Senior Vice President and Chief Financial Officer — PHH Mortgage |
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| William F. Brown |
Senior Vice President, General Counsel and Corporate Secretary |
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| Terence W. Edwards serves as President and Chief Executive Officer of PHH Corporation. Mr. Edwards has served as President and Chief Executive Officer of Cendant Mortgage since February 1996 and as such was responsible for overseeing the company’s entire mortgage banking operation. From 1995 to 1996, Mr. Edwards served as Vice President of Investor Relations and Treasurer of PHH and was responsible for PHH's investor, banking and rating agency relations, financing resources, cash management, pension investment management and internal financial structure. Mr. Edwards joined PHH in 1980 as a Treasury Operations Analyst and moved into progressively increasing responsibilities, including Director, Mortgage Finance and Senior Vice President, Secondary Marketing. |
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| Neil J. Cashen serves as Executive Vice President and Chief Financial Officer of PHH Corporation, as well as continuing to serve as Chief Financial Officer of PHH Arval. Mr. Cashen has served as Executive Vice President, Chief Operating Officer and Chief Financial Officer of PHH Arval since March 2001 and is responsible for PHH Arval's operations, including finance, strategic planning, customer and vehicle services, legal and human resources. From May 1997 to March 2001, Mr. Cashen was Senior Vice President of Finance and Planning for PHH Arval's North American Fleet operations. Mr. Cashen joined PHH in 1979 and has held positions of increasing responsibility, including Vice President and Controller, Vice President of Business Planning and Analysis, and Director of Corporate Planning and Business Development. |
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| George J. Kilroy has served as President and Chief Executive Officer of PHH Arval since March 2001. Mr. Kilroy is responsible for the management of PHH Arval. From May 1997 to March 2001, Mr. Kilroy served as Senior Vice President, Business Development, responsible for new client sales, client relations and marketing for PHH Arval's U.S. operations. Mr. Kilroy joined PHH in 1976 as an Account Executive in the Truck and Equipment Division and was promoted to increasingly responsible management positions, including Head of Diversified Services and Financial Services. |
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| Joseph E. Suter serves as President and Chief Executive Officer of PHH Mortgage. Mr. Suter had been responsible for managing pricing, interest rate risk, and loan securitization efforts of PHH’s mortgage business since 1993 as Vice President and Senior Vice President of Secondary Marketing. Mr. Suter joined U.S. Mortgage Corporation in 1983 as a wholesale account manager and moved into progressively increasing responsibilities in Secondary Marketing following PHH’s acquisition of U.S. Mortgage in 1985. |
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| Mark R. Danahy serves as Senior Vice President and Chief Financial Officer of PHH Mortgage. Mr. Danahy has served as Senior Vice President and Chief Financial Officer of Cendant Mortgage since April 2001, and is responsible for directing the corporate accounting and financial planning teams, which include financial reporting, asset valuation and capital markets accounting, planning, and forecasting. Mr. Danahy joined Cendant Mortgage in December 2000 as Controller. From 1999 to 2000, Mr. Danahy served as Vice President, Capital Market Operations for GE Capital Market Services, Inc. |
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| William F. Brown serves as Senior Vice President, General Counsel and Corporate Secretary of PHH Corporation. Mr. Brown has served as Senior Vice President and General Counsel of Cendant Mortgage since June 1999 and oversees its legal, secretarial, contract, licensing and regulatory compliance functions. Mr. Brown also serves on Cendant Mortgage's Executive Quality Control Committee. From June 1997 to June 1999, Mr. Brown served as Vice President and General Counsel of Cendant Mortgage. From January 1995 to June 1997, Mr. Brown served as Counsel in the PHH Corporate Legal Department. |
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Board of Directors of PHH Corporation
Messrs. Krongard, Edwards, Kilroy, Brinkley, Mariner and Van Kirk and Ms. Logan are the elected directors. |
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| A. B. Krongard is the Non-Executive Chairman of the Board of Directors. Since December 2004, Mr. Krongard has been pursuing personal interests. From March 2001 until 2004, Mr. Krongard served as Executive Director of the Central Intelligence Agency (CIA). From February 1998 until March 2001, Mr. Krongard served as Counselor to the Director of Central Intelligence. Mr. Krongard previously worked in various capacities at Alex. Brown, Incorporated. In 1991, Mr. Krongard was elected as Chief Executive Officer of Alex. Brown and assumed the additional duties of Chairman of the Board in 1994. Upon the merger of Alex. Brown with Bankers Trust Corporation in September 1997, Mr. Krongard became Chairman of the Board of Bankers Trust and served in such capacity until joining the CIA. |
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| James W. Brinkley has served as Director of Legg Mason, Inc., a holding company that, through its subsidiaries, provides financial services to individuals, institutions, corporations, governments and government agencies, since its formation in 1981. Mr. Brinkley has served as a Senior Executive Vice President of Legg Mason since December 1983. Mr. Brinkley became Chairman of Legg Mason Wood Walker, Incorporated (LMWW), Legg Mason's principal brokerage subsidiary, in February 2004. Mr. Brinkley previously served as LMWW's Vice Chairman and Chief Executive Officer from July 2003 through February 2004, as its President from 1985 until July 2003 and as its Chief Operating Officer from February 1998 until July 2003. |
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| Ann D. Logan has worked with various non-profit organizations since July 2000, and is currently Chair of the Annual Fund at Bryn Mawr College and a member of the College's campaign steering committee. Ms. Logan was an Executive Vice President at Fannie Mae from January 1993 to July 2000. Ms. Logan ran the single-family mortgage business at Fannie Mae from 1998 to 2000 and was the Chief Credit Officer from 1993 to 1998. From 1989 to 1993, Ms. Logan was a Senior Vice President in charge of Fannie Mae's Northeast Regional Office in Philadelphia. Prior to joining Fannie Mae, Ms. Logan was Assistant Vice President at Standard & Poor's Corporation in New York. From 1976 to 1980, Ms. Logan worked for the U.S. Senate Judiciary Committee and served as the Committee Staff Director in 1980. |
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| Jonathan D. Mariner has been the Executive Vice President and Chief Financial Officer of Major League Baseball since January 2004. From March 2002 to January 2004, Mr. Mariner served as the Senior Vice President and Chief Financial Officer of Major League Baseball. From December 2000 to March 2002, Mr. Mariner served as the Chief Operating Officer of Charter Schools U.S.A., a charter school development and management company. Mr. Mariner was the Executive Vice President and Chief Financial Officer of the Florida Marlins Baseball Club from February 1992 to December 2000. Mr. Mariner currently serves on the Boards of Directors of BankAtlantic Bancorp, Inc. and Steiner Leisure, Limited, both of which file reports pursuant to the Securities Exchange Act of 1934. |
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| Francis J. Van Kirk served as the Managing Partner of PricewaterhouseCoopers LLP's Philadelphia office since 1996 and retired on June 30, 2005. In this role, Mr. Van Kirk was responsible for the integration and coordination of PricewaterhouseCoopers' lines of service and industry groups to ensure seamless service to its clients. He began his career with PricewaterhouseCoopers in 1971 as Staff Auditor and held positions of increasing responsibility with the firm throughout his career. His experience includes over 20 years as an auditing partner serving SEC registered companies. In addition, Mr. Van Kirk is a member of the Executive Committee of the Greater Philadelphia Chamber of Commerce. |
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Composition of the Board of Directors
The PHH Corporation board is divided into three classes having staggered terms, with one of such class being elected each year for a new three-year term. Class I directors will have an initial term expiring in 2006, Class II directors will have an initial term expiring in 2007 and Class III directors will have an initial term expiring in 2008. Class I is comprised of Messrs. Van Kirk, Edwards and Krongard. Class II is comprised of Mr. Kilroy and Ms. Logan. Class III is comprised of Messrs. Mariner and Brinkley. |
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Non-Executive Chairman
Mr. Krongard has been elected to serve as our Non-Executive Chairman. The non-executive chairman is not an officer of PHH and will lead all meetings of the board of directors at which he or she is present. The non-executive chairman will serve on appropriate committees as reasonably requested by the board of directors, set meeting schedules and agendas, manage information flow to the board of directors to assure appropriate understanding of and discussion regarding matters of interest or concern to the board of directors. The non-executive chairman will also have such additional powers and perform such additional duties consistent with organizing and leading the actions of the board of directors as the board of directors may from time to time prescribe. |
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