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The next Eastman Kodak Co. board of directors is slated to have a mix of new and current board members, including CEO Antonio Perez.
In a supplement to its plan of reorganization filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York, Kodak names the directors selected for the reorganized Kodak by the parties involved with Kodak’s recently completed rights offering and the Unsecured Creditors Committee.
The term of the new board members is to begin upon Kodak’s emergence from Chapter 11, and is subject to the confirmation of the plan by the bankruptcy court.
In addition to Perez, the proposed board members:
• Mark Burgess, chairman of the Clondalkin Group, a global manufacturer of flexible and specialty plastic packaging solutions and former CEO of Graham Packaging Co.;
• James Continenza, president of STi Prepaid LLC, a telecommunications company, who formerly served in executive positions with Anchor Glass Container Corp. and Teligent Inc. He has been a Kodak director since April 1;
• George Karfunkel, chairman of Sabr Group, a consulting company, and co-founder and former senior vice president of American Stock Transfer & Trust Co. LLC;
• Jason New, a senior managing director of the Blackstone Group and head of special situation investing for GSO Capital Partners;
• William Parrett, former senior partner of Deloitte & Touche USA LLP. He has been a Kodak director since November 2007;
• Derek Smith, a managing principal and senior portfolio manager at BlueMountain Capital Management;
• Matt Doheny, president of North Country Capital LLC;
• John Janitz, co-founder and chairman of Evergreen Capital Partners LLC, and formerly president and chief operating officer of Textron Inc., a $10 billion NYSE-listed multi-industry company.
“These highly accomplished and proven business leaders bring a rich combination of capabilities in technology, packaging, corporate strategy and finance—all key areas of focus for the new Kodak,” Perez said in a statement.
The current board is to remain in place until the new board takes on its responsibilities upon emergence from bankruptcy. The new board members will serve until the next annual meeting of the company’s stockholders.
The confirmation hearing on the plan is scheduled for Aug. 20.
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