Antonio Perez will remain as Kodak's chief executive when the company emerges from Chapter 11 bankruptcy.

Kodak revealed its new executive line-up last week when it filed a supplement to its Chapter 11 Plan of Reorganisation.

Perez will serve as chief executive on a base salary of US$1.1 million ($1.2 million). He has agreed to stay in the role for one year from when Kodak emerges from Chapter 11 or until the board elects his successor, at which point he would see out his contract as a full-time advisor.

The court document said Perez's contract included a two-year non-competition clause in exchange for a US$1 million annual cash payment and a contingent payment of up to US$2 million related to performance.

[Related: Kodak Australia "profitable"]

His total package in 2012, including bonus and options, is US$5.5 million, down from the US$6.7 million he received in 2011.

Kodak's new line-up will also see Doug Edwards continue as president of digital printing and enterprise, on a base salary of US$450,000. Brad Krutchen will have a base salary of US$465,000 in his role as president of graphics, entertainment and commercial films. This division includes Kodak’s prepress business.

The other executive officers are: Latin America managing director Gustavo Oviedo; controller Eric Samuels; chief administrative officer Patrick Sheller; chief technical officer Terry Taber; and senior vice-president Laura Quatela, who will oversee the sale and transition of Kodak’s Personalised Imaging business to the Kodak Pension Plan in the UK.

The court deadline for objections to Kodak’s reorganisation plan is 9 August, with the vital ‘confirmation hearing’ currently set for 20 August.

[Related: More international news]

This article originally appeared at printweek.com

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