After Asset Securitization Report sister publication National Mortgage News reported that Kondaur Capital Corp. CEO Jon Daurio was leaving the firm, Kondaur just said that its Board of Directors has formed an Office of the Chairman to be headed by John Kontoulis and Greg Gault.

The new office will lead Kondaur's efforts in the whole loan mortgage area. Kontoulis is president while Gault is executive vice president of the firm.

This reorganization follows Daurio’s departure from the company. "The Board fully supports such corporate reorganization and expresses their appreciation for Jon’s efforts as a founder and CEO of the company," a press release from the firm said.

It also restated its commitment to the whole loan investment business. “We at Kondaur are committed to our core business as a leader in the distressed mortgage acquisition and servicing sector,” Kontoulis said. “In addition to this commitment, and together with our senior management team, we continue our efforts to expand and develop other financial products and services within the mortgage industry.”

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