Jeffrey Clarke, Orbitz Worldwide Chairman, Replaces Kodak CEO Antonio Perez

ROCHESTER, NY—March 12, 2014—The board of directors of Eastman Kodak Co. has elected Jeffrey Clarke as CEO and a member of its board of directors.

"Jeff is the right person to lead Kodak forward," said James Continenza, chairman of the board. "His combination of strengths and experience in technology, transformation, finance, operations, and international business is precisely what we set out to find in the next leader of Kodak. His past leadership positions have included businesses selling hardware, software and services, and printing—with B2B customers, as well as consumers. The board evaluated many highly qualified and talented people during the search, but it was clear to all of us that Jeff was the one we wanted. We feel extremely confident about Kodak’s prospects with Jeff at the helm. I thank Antonio Perez for his excellent leadership of Kodak through its complex and successful restructuring, and for solidifying our relationships with our valued customers since that time.”

Clarke, 52, commented on his new position at Kodak: "I have enormous respect for the people of Kodak, and I am excited to join them in moving the company forward to new successes. This enterprise has some extraordinary opportunities, especially those presented by the company’s proprietary technology in commercial printing, packaging and functional printing. Kodak has made excellent progress, building on one of the most successful reorganizations in recent years, and I look forward to continuing the work underway in transforming Kodak into a global B2B technology leader."

Clarke continued "My first priority is to spend my time listening to Kodak’s employees, customers, partners and other stakeholders as part of a detailed evaluation of our operations, market opportunities and approach for success. Once that work is complete, I look forward to sharing our conclusions."

Antonio Perez, now special advisor to the board, noted, “Jeff Clarke is a talented and proven executive who is well qualified to lead Kodak through our next era, which I believe will be one of innovation and growth. I am excited about the next chapter in the future of this great company."

Prior to joining Kodak, Clarke was a managing partner of Augusta Columbia Capital (ACC), a private investment firm focused on middle market technology and technology-enabled businesses that he co-founded in 2012. Prior to ACC, Clarke was the chairman of Travelport Inc., a private travel technology firm, where he served as CEO from 2006-2011, after leading its sale from Cendant Corp. to the Blackstone Group for $4.3 billion in 2006. During his tenure, Travelport successfully launched an IPO for its Orbitz business.

Clarke was the COO of CA Inc., an enterprise software company, from 2004-2006, where he was responsible for sales, services, distribution, corporate finance, mergers & acquisitions, information technology, corporate strategy and planning.

Clarke was an executive vice president at Hewlett-Packard Co. from 2002-2003. As executive vice president of global operations, he was responsible for HP's worldwide supply chain, manufacturing, procurement and internet operations (HP.com). He also co-led HP's merger integration with Compaq Computer. Prior to HP, Clarke was the CFO of Compaq Computer, which he joined in 1998 following the merger of Compaq with Digital Equipment Corp. (DEC). At DEC from 1985-1998, he served in management roles in international operations, finance and manufacturing.

Clarke will continue to serve as chairman of Orbitz Worldwide, a global online travel agency since 2007. He will also continue to serve on the boards of directors of Red Hat, an enterprise software company, and Compuware Corp., an enterprise software company.

Clarke earned an MBA from Northeastern University, where he serves as a Trustee. He holds a B.A. in Economics from SUNY Geneseo. He grew up in Hamilton, NY.

Egon Zehnder assisted Kodak with the CEO search process.

About Kodak
Kodak is a technology company focused on imaging for business. Kodak serves customers with disruptive technologies and breakthrough solutions for the product goods packaging, graphic communications and functional printing industries. The company also offers leading products and services in Entertainment Imaging and Commercial Films.

Source: Kodak.