Kodak CEO Jeff Clarke steps down
After nearly five years at the helm, Jeff Clarke is leaving Kodak. The Board of Directors of Eastman Kodak Company has announced the appointment of Jim Continenza to take over as Executive Chairman, effective immediately.
Continenza has served as Chairman of Kodak's Board of Directors since 2013 and will continue as Board Chairman while also assuming Clarke’s responsibilities.
In his role as Board Chairman, Continenza, 56, has led the Company's efforts to improve its capital structure, execute strategic M&A transactions and drive investment in growth engines. He brings robust experience and a proven track record guiding several leading, innovative technology companies through transformations.
Clarke said: "It was a privilege to lead Kodak during a time of transition and am pleased to leave the Company in a position of strength after the execution of the agreement to sell our Flexographic Packaging Division. The Board and I mutually agreed that now is the time to hand the reins to new leadership, and I am confident that Jim is the right leader to take the Company to the next phase of its transformation."
Clarke will be available to Continenza and the Board to ensure a smooth transition.