Over the span of just a few days in mid-December, three directors on Eastman Kodak’s board resigned their posts, including the December 21 departures of Adam Clammer and Herald Chen.
A day after the resignations of Clammer and Chen, who both joined the board in 2009 to represent New York private equity firm KKR & Co, Kodak appointed its general counsel, Laura Quatela, as President to serve alongside existing President, Philip Faraci. Patrick Sheller, the company’s Secretary, Chief Compliance Officer and Deputy General Counsel succeeds Quatela as General Counsel.
Seven days after the appointment of Quatela as President, a third Kodak board member, Laura Tyson, also resigned her post. Since releasing its 2011 third quarter results, Kodak has been attempting to sell pieces of its patents portfolio.
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