He
assumes responsibility for GCG from James Langley, who remains a senior vice president
until his departure at the end of the year. Since the company is eliminating
the position of president for both CDG and GCG, Langley will leave Kodak once he
completes the transition of his responsibilities for GCG.

The
changes are part of Kodak's larger effort to create an organization geared for
sustained, profitable growth in digital markets. As Kodak nears the conclusion
of its four-year restructuring effort, these moves position the company for the
next phase of its transformation, during which it will build bigger digital
businesses and continue the effective management of its traditional business.

Antonio
Perez, Kodak chairman and chief executive officer says, "This new structure will
allow us to better capitalise on the opportunities before us. With a single
leader for the digital businesses, we will be able to leverage our technology
across product lines more effectively, while keeping independent business
models and go-to-market strategies for both CDG and GCG. At the same time, it's
important that we continue to pursue strategies that extend the strong cash
generation of our FPG business. The new structure provides the necessary
differentiated focus between our digital and our traditional businesses."

The departing Langley joined Kodak in August
2003, and led the series of acquisitions that resulted in what is now Kodak's
Graphic Communications Group, a $3.6 billion business that offers the broadest
portfolio of blended solutions in the industry.

Perez
says, "Kodak's promising future reflects in large part the great business that
Jim built for us. I cannot thank him enough for coming out of retirement to
help establish Kodak as a leading participant in the graphic communications
industry. Jim has completed the work he came to do, and the result is that the
position of GCG president is no longer necessary in this new structure."

Faraci's appointment represents
one of the final steps in the company's four-year long restructuring, which
will conclude this year.

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter