News Summary: Kodak gives CEO plans

News Summary: Kodak details CEO succession plans for after it exits bankruptcy protection

Associated Press

NEW YORK (AP) -- CEO DEPARTURE: Eastman Kodak Co. says CEO Antonio Perez will likely be replaced in the first year after it emerges from bankruptcy protection.

THE PLAN: Perez will stay on as CEO for up to a year or until a successor is named, whichever is first. He'll resign from the CEO post and remain as an adviser until the anniversary of Kodak's exit from bankruptcy. Perez will be a consultant for up to another two years.

REST OF TEAM: Chief Restructuring Officer Jim Mesterharm and interim CFO Becky Roof will continue in their posts under a deal with AlixPartners, Kodak's restructuring advisory firm.

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