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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): March 14, 2007
Eastman Kodak Company
(Exact name of registrant as specified in its charter)
New Jersey 1-87 16-0417150
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
343 State Street,
Rochester, New York 14650
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code (585) 724-4000
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Securities
Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 5.02 Departure of Directors or Principal Officers;
Election of Directors; Appointment of Principal
Officers
Eastman Kodak Company announced today the establishment of a Chief
Operating Office, a move designed to enable the streamlining of its senior
management and enhance operational effectiveness as the necessary next step
in the Company's digital transformation. Under this new structure:
- Antonio M. Perez, Chairman of the Board and Chief Executive Officer
(CEO), Eastman Kodak Company, retains responsibility for setting
strategy, driving the overall operating performance of the Company,
and managing broad issues of corporate governance. Perez will delegate
certain responsibilities to the Chief Operating Office, specifically
those associated with achieving reductions in selling, general and
administrative expenses and leveraging on a daily basis the resources
of the Company's two largest digital businesses.
- Philip J. Faraci, President, Consumer Digital Imaging Group, and
Senior Vice President, Eastman Kodak Company, and James Langley,
President, Graphic Communications Group, and Senior Vice President,
Eastman Kodak Company, as the two principals of the Chief Operating
Office, will be responsible for the leadership and management of Kodak's
Consumer Digital and Graphic Communications businesses, respectively.
- Messrs. Faraci and Langley also will receive the additional
responsibilities of achieving reduction in selling, general and
administrative expenses and leveraging on a daily basis the resources of
the Company's two largest digital businesses. The new responsibilities
also include direct oversight of the Company's Global Shared Services
organization and Worldwide Information Systems.
Antonio M. Perez
Antonio M. Perez, 61, joined Kodak as President and Chief Operating Officer
in April 2003, and was elected to the Company's Board of Directors in
October 2004. In May 2005, he was elected Chief Executive Officer and on
January 1, 2006, he became Chairman of the Company's Board of Directors.
Mr. Perez is leading the digital transformation of Kodak, aimed at
delivering innovative digital products and services to consumer and
commercial customers in the fastest-growing segments of the imaging
industry.
Mr. Perez has extensive expertise in digital imaging technologies, stemming
from a 25-year career at Hewlett-Packard Company (HP), where he was a
corporate vice president and a member of the company's Executive Council.
As President of HP's Consumer Business, Mr. Perez spearheaded the company's
efforts to build a business in digital imaging and electronic publishing,
ultimately generating worldwide revenue of more than $16 billion.
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Prior to that assignment, Mr. Perez served as President and CEO of HP's
inkjet imaging business. During the five years in which he led the
business, the installed base of inkjet printers grew from 17 million to 100
million worldwide, with total revenue of more than $10 billion.
Just prior to joining Kodak, Mr. Perez served as an independent consultant
for large investment firms, providing counsel on the effect of technology
shifts on financial markets.
From June 2000 to December 2001, Mr. Perez was President and CEO of Gemplus
International, where he led the effort to take the company public. While
at Gemplus, he transformed the company into the leading Smart Card-based
solution provider in the fast-growing wireless and financial markets. In
the first fiscal year, revenue at Gemplus grew 70%, from $700 million to
$1.2 billion.
Philip J. Faraci
Mr. Faraci, 51, was named President, Consumer Digital Imaging Group in
September 2005, effective January 1, 2006. He oversees Kodak's consumer,
digital capture, printing, kiosk, and imaging systems businesses. He
joined Kodak as Director, Inkjet Systems Program in December 2004. In
February 2005, he was elected a Senior Vice President of the Company. In
June 2005, he was also named Director, Corporate Strategy & Business
Development.
Prior to Kodak, Mr. Faraci served as Chief Operating Officer of Phogenix
Imaging, and President and General Manager of Gemplus Corporation's Telecom
Business Unit. Prior to these roles, he spent 22 years at Hewlett-Packard,
where he served as Vice President and General Manager of the Consumer
Business Organization and Senior Vice President and General Manager for the
Inkjet Imaging Solutions Group.
James T. Langley
Mr. Langley, 56, is President, Graphic Communications Group, and Senior
Vice President. He joined Kodak as President, Commercial Printing, in
August 2003. The Commercial Printing Group was renamed Graphic
Communications Group in May 2004. In September 2003, he was elected to
Senior Vice President of the Company.
He was Vice President of Commercial Printing at HP from March 2000 to
August 2002. Prior to that assignment, Mr. Langley served for three years
as Vice President of Inkjet Worldwide Office Printers, responsible for
expanding the presence of HP's inkjet products in new, higher-end markets.
From August 1993 to June 1997, Mr. Langley served as the general manager of
HP's Vancouver Printer Division.
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ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
(99.1) Press release issued by Eastman Kodak Company on March 14, 2007,
announcing the establishment of a Chief Operating Office.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
EASTMAN KODAK COMPANY
By: /s/ Robert L. Berman
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Robert L. Berman
Chief Human Resources Officer
and Senior Vice President
Date: March 14, 2007
EASTMAN KODAK COMPANY
INDEX TO EXHIBIT
Exhibit No.
(99.1) Press release issued by Eastman Kodak Company on March 14, 2007,
announcing the establishment of a Chief Operating Office.