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Leadership Changes at Kodak

September 11, 2012

Antonio Perez, Chairman and CEO of Eastman Kodak Company, yesterday announced a series of organizational changes, including the introduction of new leadership for Kodak’s three primary businesses.

Most prominently, Chief Financial Officer Antoinette McCorvey and Chief Operating Officer Philip Faraci are leaving Kodak, which has been operating in the United States under bankruptcy protection since January 2012.

Rebecca Roof, a managing director of AlixPartners (Kodak’s restructuring advisory firm) becomes Interim Chief Financial Officer of Eastman Kodak to assist in the pursuit of emerging from chapter 11 before the end of 2013.

Kodak also announced plans to layoff an additional 1,000 employees by the end of 2012. The company has reduced its workforce by approximately 2,700 employees worldwide since the beginning of 2012.

“This business structure puts the right people in the right positions to accomplish the key tasks that will help Kodak successfully emerge,” stated Perez.

In addition to Roof’s appointment, Kodak’s new management structure includes Douglas Edwards, who leads Kodak’s Digital Printing and Enterprise unit, and Brad Kruchten, who leads Graphics, Entertainment and Commercial Films unit. Both of these units fit into Kodak’s Commercial, Packaging & Functional Printing Solutions and Enterprise Services business.

Laura Quatela, Kodak’s President, assumes the additional role of President, Personalized Imaging, which is a key asset that Kodak is trying to sell. Dolores Kruchten becomes become President of Document Imaging, which is also up for sale.

Moving forward, Kodak will now report three business segments, including: Digital Printing and Enterprise; Graphics, Entertainment and Commercial Films; and the new segment led by Laura Quatela that includes the two businesses for sale, Personalized Imaging and Document Imaging.

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