Antonio Perez, who has led Eastman Kodak Co.’s transformation into a commercial imaging company, will serve, at most, one year as CEO after the company emerges from Chapter 11 bankruptcy.">
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Antonio Perez, who has led Eastman Kodak Co.’s transformation into a commercial imaging company, will serve, at most, one year as CEO after the company emerges from Chapter 11 bankruptcy.
Kodak Tuesday night outlined its post-emergence executive leadership team in supplemental filings to its plan of reorganization with the U.S. Bankruptcy Court. The new equity investors in Kodak have confirmed their acceptance of the management team, which is a condition to Kodak’s emergence equity plan, the company said.
Perez joined Kodak in 2003 and became chairman and CEO in 2005, replacing Daniel Carp.
Perez, who also will serve as a director, committed to serve the reorganized company for up to three years following the company’s emergence from Chapter 11. Perez will agree to be CEO for one year from emergence, or until the post-emergence board of directors elects his successor, whichever is sooner, the company said.
As CEO, Perez will work with the board to identify his successor. Upon the appointment of his successor, Perez would resign as CEO, and work as a full-time special adviser to the board to effect a seamless transition for a period up to the first anniversary of the company’s emergence. He has agreed to serve the company in a consulting capacity for up to another two years.
Not announced by Kodak as part of the post-emergence management team is Kodak President Laura Quatela, who also has served as president of Personalized Imaging. A filing with the Bankruptcy Court, however, states Quatela will serve as senior vice president and oversee the sale and transition of the Personalized Imaging business.
The management team outlined in the filings include Douglas Edwards, president of Digital Printing and Enterprise; Brad Kruchten, president of Graphics, Entertainment & Commercial Films; Terry Taber, chief technical officer; Eric Samuels, controller; and Patrick Sheller, general counsel, secretary and chief administrative officer.
In addition, Jim Mesterharm will continue as chief restructuring officer and Becky Roof will continue as interim chief financial officer, under the company's agreement with AlixPartners.
“On behalf of the entire continuing management team, we appreciate the support of our new owners and look forward to the completion of Kodak’s successful restructuring, the confirmation of our Plan of Reorganization and our emergence from Chapter 11 later in the third quarter,” Perez said.
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