Under the new structure, Kodak has reduced its number of segments from three to two – the Commercial Segment and the Consumer Segment – which will both report into a newly created chief operating office.
The new office will be led by Philip Faraci, who will continue to serve as Kodak’s president and chief operating officer and by Laura Quatela, who was recently named, alongside Faraci, as president and chief operating officer of Kodak.
Faraci will focus on the Commercial Segment and the company’s sales and regional operations, and Quatela will focus on the Consumer Segment and certain corporate functions. Both individuals will report to Antonio Perez, chairman and CEO, as will the positions of chief financial officer, chief technical officer, chief marketing officer and general counsel.
Commenting on the transformation, Perez says, “As we complete Kodak’s transformation to a digital company, our future markets will be very different from our past, and we need to organize ourselves in keeping with that evolution.
“This new structure simplifies the organisation, focuses it more precisely on our consumer and commercial customers, and puts the right people in place to capitalize fully on the tremendous technological capabilities of Kodak. These business structure changes also allow us to allocate resources more productively, continue to significantly reduce administrative costs, and improve efficiency.”
Under the new structure, the Commercial and Consumer Segments will replace the current Graphic Communications Group (GCG), which provides digital printing equipment, consumables and software to the publishing and commercial printing industries; the Consumer Digital Imaging Group (CDG), which helps consumers capture and print images; and the Film, Photofinishing and Entertainment Group (FPEG), which represents the company’s traditional film and photographic paper products.
Reports say since the restructure was announced, Kodak’s shares shot up 46 per cent.
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