Kodak Launches New Cost Reduction Program, Philip J. Faraci Leaving the Company

The company will report three business segments: Digital Printing and Enterprise; Graphics, Entertainment and Commercial Films; and a new segment led by Laura Quatela that includes the two businesses for sale, Personalized Imaging and Document Imaging.

“This business structure puts the right people in the right positions to accomplish the key tasks that will help Kodak successfully emerge,” commented Perez. “We wish Phil Faraci well. Kodak and I both owe Phil a debt of gratitude for his outstanding contribution as Kodak’s Chief Operating Officer. At this time, Phil and I have agreed that our management team must be scaled and aligned with the future size and structure of the business.