PHH Corporation 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. 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. 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.