Kodak Names Leaders for Postbankruptcy
ROCHESTER, N.Y., Aug. 1, 2013 — Eastman Kodak has named the leadership team it plans to put in charge after the company emerges from Chapter 11 bankruptcy protection later this year.
Kodak outlined its postemergence executive leadership team in supplemental filings to its plan of reorganization with the US Bankruptcy Court. The company filed for Chapter 11 in January 2012 (See: Kodak Files for Chapter 11). The new equity investors in Kodak have confirmed their acceptance of the management team, which is a condition to the company’s emergence equity plan, it said.
Under the plan, Antonio Perez will remain as the imaging company’s CEO and will serve as a member of the board. He will act as CEO for one year from the emergence or until the postemergence board elects his successor, whichever is sooner. He then will serve as a consultant for up to two years.
Rest of leadership:
Jim Mesterharm will continue as chief restructuring officer, and Becky Roof will remain as interim chief financial officer, under the company’s agreement with AlixPartners. They will remain in their positions until Kodak’s board decides to end its arrangement with AlixPartners.
- • Douglas J. Edwards, who will remain in his role as president of digital printing and enterprise.
- Brad W. Kruchten, who will remain as president of graphics, entertainment and commercial films.
- Terry R. Taber, who will continue as chief technical officer.
- Eric H. Samuels, who will remain as controller.
- Patrick M. Sheller, who will continue as general counsel, secretary and chief administrative officer.
Kodak’s general managers for regional operations will also remain the same: Philip Cullimore, Europe, Middle East and Africa; Louis Lebegue, Asia Pacific; John O’Grady, US and Canada; and Gustavo Oviedo, Latin America and Emerging Geographies.
The appointments are subject to certain conditions, including approval as part of Kodak’s Plan of Reorganization confirmation and the company’s emergence from Chapter 11. The confirmation hearing is scheduled for Aug. 20, with emergence expected during the third quarter.
For more information, visit: www.kodak.com
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