Change at the helm of Eastman Kodak Company

Perez will become Chief Executive Officer and President. Carp is currently Chairman and CEO, and he will continue as Chairman until his retirement at the end of the year, when Perez will become Chairman in addition to his responsibilities as CEO and President.

Carp, 57, became President and COO in January 1997, and was elected to the company’s Board in December of that year. He became CEO in January 2000 and Chairman in December 2000.  He joined the company in 1970 as a statistical analyst, and during his career served as the general manager for Kodak in Europe, Africa and the Middle East, as well as Latin America and Canada.

Perez, 59, joined Kodak in April 2003 after a career that included 25 years at Hewlett-Packard Company, where he was a corporate vice president and a member of the company’s Executive Council. Most recently , he was President of the Consumer Business, where he spearheaded the company’s efforts to build a business in digital imaging and electronic publishing. Prior to that assignment, he served as President and CEO of HP’s inkjet imaging business.

Just prior to joining Kodak, 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, he was President and Chief Executive Officer of Gemplus International, where he led the successful effort to take the company public in December 2000.

A native of Spain, Perez studied electronic engineering, marketing and business in Spain and France.

“I consider it a personal mandate to carry on the important work that Dan and the Board of Directors launched.” commented Perez. ”During the last two years, I have worked closely with Dan and the Board to create and implement a powerful digital vision for Kodak, based on our core competencies and our brand and distribution power. We are in the early stages of our transformation, with much hard work before us; and we have the ability to deliver what we promised to our shareholders, our customers, and our employees. I thank Dan and the Board for the opportunity to drive Kodak to greater success in all the markets we serve.”

A couple of weeks ago, Eastman Kodak Company announced a net loss of US-$ 142 million or 50 cents per share on sales of US-$ 2.832 billion for the first quarter, a decrease of 3 percent, compared with a net income of US-$ 21 million or 7 cents per share in the first quarter of 2004.