After losing its board seat last week, Terence W. Edwards has stepped down as president and CEO of PHH Corp.
The Mount Laurel residential mortgage originator said today that George J. Kilroy has been named acting CEO and president and James O. Egan the new chairman. All changes took effect on June 17.
Kilroy, 61, had been president and CEO of PHH Arval, the company's fleet management services business.
Edwards, 53, will remain an advisor to PHH for up to six months. The company said the board has begun a search for a permanent CEO and will consider internal and external candidates.