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Kodak plans exit for CEO Perez

Rochester, N.Y. – Eastman Kodak named its post-bankruptcy management Tuesday evening, and in the outline is a plan for CEO Antonio Perez to resign his current position.

Perez will serve as CEO for up to one year after Kodak emerges from bankruptcy, or until the post-emergence Board of Directors elects his replacement – whichever is sooner.

Kodak plans to emerge from Chapter 11 in early September.

Perez, 66, plans to be involved in the selection of Kodak’s new CEO. Once his successor is chosen, Perez will work with them for a one-year transition period. From there, Perez has agreed to serve in a consulting role for the company for an additional two years.

Perez joined Kodak as President and CEO in 2003. In 2007, he was appointed to President Obama's Council on Jobs and Competitiveness. 

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Washington Times