Kodak names Jim Continenza as executive chairman

Eco-friendly step to save electricity

366
Kodak
Jim Continenza will lead Eastman Kodak as the new executive chairman.

The board of directors of Eastman Kodak Company on 20 February announced the appointment of Jim Continenza as the company’s new executive chairman, effective immediately. Continenza, who has served as chairman of Kodak’s board of directors since 2013, will continue as board chairman while also assuming the responsibilities of Jeffrey J. Clarke, who is stepping down after nearly five years as chief executive officer.

Continenza, has led the company’s efforts to improve its capital structure, execute strategic M&A transactions and drive investment in growth engines. He brings robust experience and a proven track record guiding several leading, innovative technology companies through transformations.

Continenza said, “I am thrilled to build upon our board’s strategic vision and become an integral part of day-to-day operations as the company continues to execute on its previously announced initiatives. Importantly, I look forward to helping Kodak build long-term value for shareholders as we continue to deleverage our balance sheet, increase operational efficiencies, and maximize the potential of our key growth drivers. I’d like to thank Jeff for his strong leadership and I’m optimistic about the future of Kodak given our team, our assets and the opportunities ahead.”

Kodak’s leadership team and the board will continue to focus on the company’s current strategic initiatives, which include – executing on the sale of the Flexographic Packaging Division (FPD), a business that has demonstrated high growth; completing efficiency actions expected to result in USD 40 million of annualized savings and improved liquidity; driving Kodak’s key growth areas of SONORA Process-Free Plates, enterprise inkjet, workflow software and brand licensing, while continuing to maximize value in print systems, film and advanced materials; and commitment to growth in motion picture film, having seen 32 Oscar nominations for films shot on film in 2019.

Former CEO Jeffrey J. Clarke said, “It was a privilege to lead Kodak during a time of transition and am pleased to leave the company in a position of strength after the execution of the agreement to sell our Flexographic Packaging Division. The Board and I mutually agreed that now is the time to hand the reins to new leadership, and I am confident that Jim is the right leader to take the Company to the next phase of its transformation.”

Clarke will be available to Continenza and the board to ensure a smooth transition.

Continenza currently serves as chairman of the board of Merrill Corporation, LLC and Sorenson Communications LLC. He also serves on the board of directors of Nextel International, Inc. Continenza is also the founder, chairman and CEO of Vivial Inc., a privately held marketing technology and communications company. Continenza was previously chairman of the board of Tembec Inc., Neff Rental, LLC, Aventine Renewable Energy, Inc., Southwest Georgia Ethanol, LLC, BioFuel Energy Corporation, and Portola Packaging, Inc. He also previously served on the board of directors for Hawkeye Renewables, Blaze Recycling, LLC, Anchor Glass Container Corporation, Rath-Gibson Inc., Rural Cellular Corporation, U.S.A. Mobility, Inc., MAXIM Crane Works, Inc., Arch Wireless, Inc., Broadview Networks, LLC, Teligent, Inc. and Microcell Telecommunications, Inc.

Clarke’s seat on the board will be filled by Phillippe D. Katz, newly appointed director of Kodak. Katz has served as partner at the investment firm of United Equities Commodities Company since 1996. He also sits on the board of directors of Berkshire Bancorp, Inc. and several private company boards.

In 2024, we are looking at full recovery and growth-led investment in Indian printing

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. It created the category of privately owned B2B print magazines in the country. And by its diversification in packaging, (Packaging South Asia), food processing and packaging (IndiFoodBev) and health and medical supply chain and packaging (HealthTekPak), and its community activities in training, research, and conferences (Ipp Services, Training and Research) the organization continues to create platforms that demonstrate the need for quality information, data, technology insights and events.

India is a large and tough terrain and while its book publishing and commercial printing industry have recovered and are increasingly embracing digital print, the Indian newspaper industry continues to recover its credibility and circulation. The signage industry is also recovering and new technologies and audiences such as digital 3D additive printing, digital textiles, and industrial printing are coming onto our pages. Diversification is a fact of life for our readers and like them, we will also have to adapt with agility to keep up with their business and technical information needs.

India is one of the fastest growing economies in nominal and real terms – in a region poised for the highest change in year to year expenditure in printing equipment and consumables. Our 2024 media kit is ready, and it is the right time to take stock – to emphasize your visibility and relevance to your customers and turn potential markets into conversations.

– Naresh Khanna

Subscribe Now

LEAVE A REPLY

Please enter your comment!
Please enter your name here