Kodak establishes Chief Operating Office

Under the new structure, Antonio Perez, as Chairman and CEO, retains responsibility for setting strategy, driving the overall operating performance of the company, and managing broad issues of corporate governance.

Perez also will retain a direct reporting line with the Film Products Group (FPG), which is responsible for the company’s consumer and professional films as well as its Entertainment Imaging business. These businesses are playing a vital role in the company’s portfolio and its transformation effort. Given the different structural nature of FPG, and the strategic importance of completing this year the restructuring of the traditional businesses, this organization will continue to report directly to Perez through Mary Jane Hellyar, President, FPG, and a Senior Vice President of the company.

The new reporting structure of the company will be as follows: Finance, Legal, the Chief Technical Office, Human Resources, the Global Diversity Office and the Chief Information Officer will report to the CEO.

Global Shared Services, Worldwide Information Systems, and all manufacturing and logistics activity of CDG and GCG will report to the Chief Operating Office.

Most importantly, Faraci and Langley will be jointly accountable for achieving this year the strategic objective of significantly reducing administrative costs and positioning Kodak for profitable growth in 2008. They will put in place the structures and processes needed to achieve a greater streamlining of management, deeper cost reductions, and greater leverage across the digital businesses to drive revenue growth. In turn, this will help Faraci and Langley to achieve the goals they outlined for their businesses at the company’s investor meeting in February.

Consistent with the establishment of the Chief Operating Office, the company will consolidate much of the corporate infrastructure that is presently dedicated to the businesses, which now will determine the amount of services that they require, thereby allowing the company to reduce cost and improve efficiency by pooling resources at the senior-most levels of the corporate functions.

Kodak has also announced the following management changes:

Carl Gustin, 55, Chief Marketing Officer and Senior Vice President, Eastman Kodak Company, announced his intention to retire effective July 1. Gustin’s retirement represents the completion of a plan that he developed in the past year to operate marketing within the businesses and to redistribute the responsibilities of the Chief Marketing Office into the businesses and functional areas. The announcement of his retirement coincides with the final implementation of that plan.

Jeff Jacobson, 46, Chief Operating Officer, Graphic Communications Group, and Vice President, Eastman Kodak Company, announced his intention to leave the company effective April 30, under the terms of a two-year agreement that took effect when he joined the company in April 2005 upon the acquisition of Kodak Polychrome Graphics. Jacobson will spend the next six weeks helping to transition his responsibilities.