Kodak Restructures Executive Team for Post-Chapter 11 Company

Kodak Restructures Executive Team for Post-Chapter 11 Company


Rochester, NY—In consultation with the backstop providers of Kodak’s emergence equity plan, Kodak outlined its post-emergence executive leadership in supplemental filings to its Plan of Reorganization. Kodak believes this team will ensure continuity in leadership and has the expertise to continue implementing the company’s business transformation.

“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,” said Antonio M. Perez, Kodak’s current chairman and chief executive officer.

The new equity investors confirmed their acceptance of the following management team, which is one condition of Kodak’s emergence equity plan. These arrangements are also subject to confirmation of Kodak’s Plan of Reorganization and its emergence from Chapter 11. In its filings, the company named the following senior corporate and business unit executives.

Antonio M. Perez. Perez will continue as Kodak’s CEO and as a member of its board. He will commit to serving the reorganized company for up to three years following its 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.

During his tenure as CEO, Perez will also be actively involved with the board in identifying the right successor, with whom he will work closely to effect a seamless transition. Upon the appointment of his successor, Perez will resign from his position as CEO and continue to work closely with his successor and the board as a full-time special advisor to facilitate the continued realization of the company’s transformation for a period up to the first anniversary of Kodak’s emergence. In addition, he has agreed to serve the company in a consulting capacity for up to another two years following the initial one-year term.

Douglas J. Edwards.
Edwards will remain in his role as president of Digital Printing and Enterprise. He was named to the post in September 2012 and elected a senior vice president in October 2012. Kodak’s Stream and SQUAREspot technologies underpin this portfolio, and products include Kodak Prosper solutions and Kodak Flexcel systems.

Brad W. Kruchten.
Krutchten will continue on as president, Graphics, Entertainment & Commercial Films, which includes Prepress, Entertainment Imaging, Commercial Film and Global Consumables Manufacturing, a position he has held since 2011. The Graphics business includes such products as Kodak Prinergy Workflow and Kodak Sonora process-free plates.

Terry R. Taber
. Taber will remain in his current post as chief technical officer, a position he has held since 2009. As CTO, he is responsible for the development of key technologies including those in functional printing.

Eric H. Samuels. Appointed corporate controller and chief accounting officer in July 2009, Samuels will continue to serve as controller.

Patrick M. Sheller.
Sheller will serve as the general counsel, secretary and chief administrative officer, positions he has held since 2012.

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, the duration of which will be determined by the post-emergence board.

Also continuing in their roles as general managers of Kodak’s regional operations are: Philip Cullimore, Europe, Middle East and Africa; Lois Lebegue, Asia Pacific; John O’Grady, U.S. and Canada; and Gustavo Oviedo, Latin America and Emerging Geographies. kodak.com